Aliko Dangote, founder of the Dangote Group, has revealed the huge personal and financial risks he took to establish Nigeria’s largest oil refinery.
He admitted that if the project had failed, lenders would have taken over all his assets.
He said, “The decision to build the refinery was not easy. If it had gone wrong, lenders would have taken our assets. But we believed in Nigeria and Africa.”
Despite skepticism from industry experts, investors, and government officials, Dangote pushed forward. His determination has paid off, with the refinery helping to reduce petrol prices from nearly ₦1,100 per litre to about ₦841 in regions including the Southwest, Abuja, Delta, Rivers, Edo, and Kwara.
