African billionaire Aliko Dangote is wealthier than ever now that his long-awaited Nigerian oil refinery is up and running. But his mood suggests a man who just built his dream house only for the roof to start leaking.
The Dangote Refinery outside Lagos is the biggest single-train oil refinery in the world and one of the most complex, capable of processing most global crude types. It has the potential to transform Nigeria's economy by making the country self-reliant for fuel. And it's more than doubled his net worth to 27.8 billion R493 billion, according to the Bloomberg Billionaires Index.
He said he wouldn't wish the experience on his worst enemy.
'I didn't know what we were building was a monster,' Dangote, 67, said during a recent visit to New York. 'The pressure was coming from different directions, people confusing us, disturbing us every day with different media stories that it will never work, it will never work, it will never work.'
Since the refinery started running in January, there have been disagreements with the government and state oil company, as well as concerns over its impact on locals and the environment. Dangote is smarting from the blowback, his tone quickly shifting from warm to bitter as he runs through the challenges.
