“I was very focused on buying Arsenal, but I had to focus on my refinery”, Dangote reveals

• Dangote says Arsenal was worth about $2 billion at the time.

• He chose to prioritise his refinery and fertiliser projects.

• The billionaire says Arsenal is now worth “billions.”

• Dangote says he remains a loyal Arsenal supporter.

Speaking during an interview, Dangote explained that although he was once “very, very focused” on acquiring the North London club, he ultimately decided to channel his resources into completing his massive industrial projects in Nigeria.

According to him, the decision came at a critical period when he was simultaneously working on the completion of his refinery, fertiliser plant, and petrochemical projects.

“When I was really very, very focused on buying Arsenal, then I was also facing the challenge of making sure the refinery gets its own completion, the fertiliser, the phytochemical,” Dangote said.

The billionaire businessman noted that Arsenal was valued at around $2 billion at the time he seriously considered the purchase.

“And then when I look at it at that time, I was thinking fine, but I have needs of funds,” he said.

“Will I go and put my $2 billion in Arsenal and now allow the business to suffer? Or should I now complete the business?”

Dangote said he eventually decided that investing further into his business empire was the better financial decision.

“So I decided that no, I'm going to continue to support them, watch their games, go there,” he stated.

“And I am an Arsenal fan rather than now trying to…”

The billionaire, who has repeatedly declared his love for Arsenal over the years, added that he still passionately supports the club and regularly wears their jerseys during matches.

“Even, you know, the t-shirt. Every day, any time that they are playing, I always wear the t-shirt,” he said.

“And I have one, you know, which was also signed off by the captain.”

Dangote further explained that Arsenal’s value has now risen significantly beyond what it was when he first considered the takeover.

“I mean, today they are worth billions and it's not really worth my while at all,” he added.

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The billionaire had previously hinted in multiple interviews that he intended to pursue the acquisition after the completion of the Dangote Refinery, now regarded as one of the largest single-train refineries in the world.

However, his latest comments now suggest that the dream of becoming Arsenal owner may no longer be on the table.