Africa’s richest man Aliko Dangote says he doesn’t own a home outside Nigeria

Nigerian billionaire Aliko Dangote says that he does not own any property overseas, as he only owns two houses in Nigeria, as he wants to concentrate on developing and industrialising his native country.

With a net worth of $13.4 billion, Dangote is the founder of Dangote Cement, the largest cement producer in sub-Saharan Africa, in which he holds an 85 percent stake. He also founded Dangote Fertilizer and Refinery, the world’s largest single-train refinery.

He was listed by Forbes magazine in January as Africa’s richest man for the 13th year in a row despite the country’s economic difficulties.

While other African politicians and other moguls accumulate property overseas, Dangote revealed to journalists on Sunday at the Dangote Petroleum Refinery that he had no interest in buying property before his country prospered.

Dangote revealed that in addition to the two properties he owned in Kano and Lagos, he also rented an apartment in Abuja.

“The reason I don’t have a London or America house is solely because I wanted to focus on industrialization in Nigeria. I am very passionate about the Nigeria dream and apart from my Lagos house, I have another one in my home state, Kano, and a rented one in Abuja.

“If I have houses all over, in America and co, I would not be able to concentrate and build something for my people.”

Dangote has recently been in the spotlight due to the launch of his Dangote Refinery, which is currently producing diesel in Nigeria. The $20.5 billion facility, which commenced operations in January, will eventually have the capacity to produce 650,000 barrels per day.

Speaking on Dangote’s claims that he only had two houses to his name, public affairs analyst Sani Bala told the BBC that Dangote was setting a very good example.

“Nigerians need to be re-oriented to understand owning several mansions is not an achievement when the money would be needed elsewhere.

“Dangote said he sold his house in London in 1996 and I am sure monies realised from the sale was put back in his business – that is the way to go.”