Dangote reveals biggest risk of his life: ‘It nearly killed me’

Billionaire Aliko Dangote has described his $23 billion Dangote Refinery project as the “biggest risk” of his life, acknowledging the significant challenges he faced in bringing it to reality.

In an exclusive interview with Forbes on Monday, Dangote opened up about the immense risks tied to such a monumental endeavor.

“It was the biggest risk of my life. If this didn’t work, I was done,” he admitted.

Despite the refinery’s groundbreaking capacity of 650,000 barrels per day, making it Africa’s largest, Dangote shared that the journey to completion was filled with uncertainties. He also spoke candidly about the difficulties he faced in financing the project, navigating regulatory hurdles, and securing suppliers.

Dangote emphasized his commitment to creating a model for industrialization across Africa.

“We must build our own nation, our own continent. We can’t keep relying on foreign investment,” he said. He further pointed out that Africa has long been a “dumping ground for finished products,” and his refinery represents a crucial step toward Africa refining its own crude oil, fostering wealth, and creating prosperity for its vast population.

Undeterred by the challenges, Dangote is determined to see his refinery succeed.

Though he has established a family office in Dubai and involves his three daughters in various roles within the business, his focus remains firmly on Nigeria. He dedicates much of his time to the refinery, frequently meeting with engineers and managers to ensure steady progress.

In addition to the refinery, Dangote is working on ambitious projects, including building a subsea pipeline to transport natural gas from the Niger Delta to Lagos and expanding the capacity of his fertilizer plant.

Looking ahead, he plans to take the refinery public within the next year or two.

“I’ve been fighting battles all my life, and I haven’t lost one yet,” he declared.

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