Aliko Dangote, President of Dangote Group, described his $23 billion refinery project as the “biggest risk” of his life.
In an exclusive Forbes interview on Monday, Dangote shared that if the refinery had failed, it could have cost him everything.
“If this didn’t work, I was dead,” he said.
Dangote emphasized the project’s uncertainties and the need to reduce Africa’s reliance on foreign investment, despite its 650,000 bpd capacity.
He stressed the need for the continent to refine its own fuel, rather than continue to be a “dumping ground” for finished products.
Dangote also criticized Nigeria’s “oil mafia,” describing them as more dangerous than drug cartels due to the vast network involved.
He dismissed rumors of falling out with President Bola Tinubu, saying their relationship remains strong.
He also reassured that his commitment to Nigeria remains unwavering despite expanding business interests, including a family office in Dubai.
Dangote outlined future projects, including a subsea pipeline for natural gas and plans to take his refinery public.
