Richest man in Africa, Aliko Dangote has said his $23billion Dangote Refinery project is the “biggest risk” he has ever taken.
Dangote who has established himself as the most successful entrepreneur in Nigeria says “I was dead” if it didn’t work.
He made this known in an exclusive interview on Forbes on Monday, February 17 as he opened up on the risks involved in such a massive undertaking.
Despite the refinery’s capacity of 650,000 barrels per day and its status as Africa’s largest, Dangote revealed that the journey to completion was fraught with uncertainties.
Dangote also spoke about the hurdles he faced in financing the project, the regulatory challenges, and securing suppliers.
Dangote said he is committed to providing a blueprint for industrialisation across Africa.
“We have to build our own nation by ourselves. We have to build our own continent by ourselves, not [rely on] foreign investment.
He added that Africa has been “a mere dumping ground for finished products,” and his refinery represents “a pivotal step in ensuring that Africa has the capacity to refine its own crude oil, thereby creating wealth and prosperity for its vast population,” he said.
Undeterred by the challenges, Dangote is determined to ensure the success of his refinery.
According to the Forbes report, despite establishing a family office in Dubai and involving his three daughters in various roles within the family business, his focus remains firmly on Nigeria.
He continues to dedicate much of his time to the refinery, regularly meeting with engineers and managers to oversee progress.