Aliko Dangote has made a fortune out of cement and food processing. Now, Africa’s richest person is embarking on a bigger challenge: a $15 billion investment in oil, gas and petrochemicals that could, if he pulls it off, transform Nigeria’s economy.
The 61-year-old is building one of the world’s biggest oil refineries near Lagos, the commercial capital. He’s also constructing a fertilizer factory on the same site and plans to boost gas supplies to the city, Africa’s largest. Once that’s done, he wants to buy enough oil fields to pump one-quarter of a million barrels of crude a day.