Building Africa’s largest refinery was no easy feat, and for Aliko Dangote, the stakes were high. The Nigerian businessman recently opened up about the struggles of bringing the $23 billion project to life, revealing that the risks involved were overwhelming.
In an interview with Forbes on Monday, Dangote admitted that setbacks in funding, government approvals, and securing resources nearly derailed the project. Despite these hurdles, he remained determined to complete the refinery, which now processes 650,000 barrels of crude oil daily.
“It was the biggest risk of my life. If this didn’t work, I was dead,” he said.
For him, industrial growth in Africa must be driven by Africans. He stressed the need for self-reliance rather than continued dependence on foreign investors.
“Our continent has been a dumping ground for finished products for too long,” he said, explaining that refining crude oil locally would create jobs and boost economic growth.
Dangote is not stopping there. He is also leading efforts to expand his fertiliser plant and build a gas pipeline linking the Niger Delta to Lagos.
Though he has a business presence in Dubai and his daughters are involved in his company, Nigeria remains his top priority. He continues to oversee the refinery’s progress and is preparing to make it publicly owned in the near future.
“I have faced many challenges in my life, and I have never lost a battle,” he said.
