In a recent interview with Forbes, Dangote candidly discussed the inherent risks associated with such a large-scale endeavor.
“It was the biggest risk of my life. If this didn’t work, I was dead,” he said.
Despite the refinery's impressive capacity of 650,000 barrels per day, making it the largest in Africa, Dangote admitted that the path to its completion was laden with uncertainties.
He elaborated on the financial obstacles, regulatory issues, and the difficulties in securing suppliers that he had to navigate throughout the project.
Dangote expressed his commitment to creating a model for industrialization throughout Africa.
“We have to build our own nation by ourselves. We have to build our own continent by ourselves, not [rely on] foreign investment," he emphasized.
He pointed out that Africa has often been treated as a “a mere dumping ground for finished products,” and he believes his refinery is a crucial step toward enabling the continent to refine its own crude oil, thus fostering wealth and prosperity for its large population.
Despite the challenges, Dangote remains resolute in ensuring the refinery's success.
According to the Forbes article, although he has established a family office in Dubai and involved his three daughters in various capacities within the family business, his primary focus continues to be Nigeria.
He dedicates a significant amount of time to the refinery, frequently meeting with engineers and managers to monitor its progress.
Additionally, Dangote is pursuing ambitious projects, including the construction of a subsea pipeline to transport natural gas from the Niger Delta to Lagos and expanding the capacity of the refinery's fertilizer plant.
Looking forward, he intends to take the refinery public within the next year or two.
“I’ve been fighting battles all my life and I have not lost one yet,” he said.