“I’M ALL IN! Aliko Dangote’s $23 BILLION Refinery Gamble: ‘I’d Have Been DEAD If It Failed!”

Aliko Dangote, President of Dangote Group, in an exclusive interview with Forbes, has revealed that his $23 billion refinery project is the “biggest risk” of his life, stating that he would have been “dead” if the refinery didn’t work out.

Emphasizing the need for Nigeria and Africa to reduce their dependence on foreign investment, he eplained that his refinery project is Africa’s largest, with a capacity of 650,000 barrels per day although despite this massive scale, the project faced significant uncertainties.

“It was the biggest risk of my life. If this didn’t work, I was dead,” Dangote said, highlighting the immense risk he undertook in building the refinery.

Dangote also stressed that Africa has been a “dumping ground” for finished products, and his refinery provides a vital step towards ensuring that Africa has the capacity to refine its own fuel.

The refinery is expected to have a trans-formative impact on Nigeria, helping to solve the country’s long-standing fuel shortages while also significantly boosting its refining capacity.

He further emphasized the importance of self-sufficiency, stating, “We have to build our own nation by ourselves. We have to build our own continent by ourselves, not [rely on] foreign investment” .

In addition to the refinery, Dangote has also revealed plans for future major projects, including a sub-sea pipeline to transport natural gas from the Niger Delta to Lagos.

He also plans to expand the refinery’s fertilizer plant and take the refinery public within the next two years.

Dangote was critical of Nigeria’s “oil mafia,” a network he claims wields significant influence in the industry, in his word; “The oil mafia are more deadly than the one in drugs, because with the oil mafia there are so many people that are involved.”

Despiteall these challenges, Dangote remains committed to his projects in Nigeria, dismissing claims that he is shifting focus away from the country, his determination and resilience are evident in his statement, “I’ve been fighting battles all my life, and I have not lost one yet”.