I regret not buying Arsenal – Dangote

The Chairman of Dangote Group, Aliko Dangote, a long time supporter of Arsenal Football Club, lamented recently. He said he wished he could have bought the football club when it was only worth $2 billion. In an interview with Bloomberg Television in New York Dangote said that he was closely shaving serious thoughts of buying the Club but dropped the idea because he was still working for the completion of the refinery project which is now greatly seen as a giant leap in the Nigeria oil.

At the time of his interest in Arsenal, the club's performance was not as strong, and its valuation was far more affordable compared to today's estimated $4 billion. However, as Dangote said, his money was required for the refinery business, and if he had bought Arsenal, he would not have been able to do so. The Nigerian billionaire has since stated he wished he bought the club earlier, but he did mention that it was the right thing not to buy the club because it was better for his company to complete the refinery.

Although Dangote was no longer interested in acquiring the club, he still traces his support to Arsenal by frequently attending their matches. He explained that it’s no longer profitable to spend on an acquisition as Arsenal is doing well as it is, and he can not just use his liquidity to make lavish promotions.

Nonetheless, on other fronts, Dangote is still forging ahead in other areas of investment and, more notably, in his giant refinery, which has now grown to be a strong actor in Nigeria’s energy industry​.