Aliko Dangote Explains Decision to Avoid Owning Houses Abroad to Focus on Nigeria’s Industrialisation

Billionaire Prioritizes Nigeria’s Development Over Personal Luxury

Africa’s richest man, Aliko Dangote, has revealed that his commitment to industrialising Nigeria is the primary reason he refrains from owning houses abroad. Speaking to journalists at the Dangote Petroleum Refinery in the Ibeju-Lekki area of Lagos State, Dangote emphasized that properties in London or the United States would divert his attention from his goal of making Nigeria a hub of industrial activity.

“The reason I don’t have a London or American house is solely because I wanted to focus on industrialisation in Nigeria,” Dangote said. “I figured that if I had those houses, there would be one reason or the other for me to visit those places, thereby causing distraction for me. I am very passionate about the Nigerian dream, and apart from my Lagos house, I have another one in my home state, Kano, and a rented one in Abuja.”

Dangote’s dedication to Nigeria’s development was echoed by his daughter, Fatima Dangote, Group Executive Director of Commercial Operations. “I have not seen anyone as hardworking as my father. Sometimes I wonder how he never gives up,” she remarked. “I wish we had a few more men like my father in Nigeria. The country would be a better place.”

In related news, the Group CEO announced a significant change in the ownership stake of the Nigerian National Petroleum Corporation (NNPC) in the Dangote Refinery. The NNPC’s stake has decreased from the initial 20% to 7.2%, as they failed to meet their financial obligations by the June deadline.

“NNPC no longer owns a 20% stake in the Dangote refinery. They were meant to pay their balance in June but have yet to fulfil the obligations. Now, they only own a 7.2% stake in the refinery,” Dangote clarified.

This strategic focus on Nigeria’s industrialisation underscores Dangote’s vision and dedication to the country’s economic growth and development.

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