Dangote Calls $23bn Refinery His ‘Biggest Risk Ever’

Billionaire businessman Aliko Dangote has described his $23bn refinery project as the biggest risk of his life. In an interview with Forbes, he revealed that the journey to completing the 650,000 barrels-per-day refinery—Africa’s largest—was filled with challenges, from financing difficulties to regulatory hurdles and securing suppliers.

Dangote emphasized the refinery’s importance to Africa’s industrial future, stating that the continent must build its own capacity instead of relying on imports. He sees the refinery as a key step toward self-sufficiency in refining crude oil and creating wealth for Africans.

Despite the risks, Dangote remains committed to the project’s success. He spends considerable time on-site, overseeing operations, while also pursuing other ventures like a subsea gas pipeline from the Niger Delta to Lagos and expanding his fertilizer plant. He hinted at plans to take the refinery public within the next two years.

“I’ve been fighting battles all my life, and I have not lost one yet,” Dangote said.

Source: Punch News - https://punchng.com/23bn-refinery-biggest-risk-of-my-life-dangote/