For over 15 years, the idea of Aliko Dangote buying Arsenal Football Club has been one of the most talked-about what-ifs in both African business and football circles. And now, for the first time, Africa's richest man has told us exactly why it never happened.
Speaking during a podcast interview with Nicolai Tangen, CEO of Norges Bank Investment Management, Dangote opened up about the moment he made the difficult decision to choose business over football, and the numbers behind that choice are eye-opening.
At the time he was most seriously considering a takeover, Arsenal was valued at around $2 billion. For most people on earth, that figure alone would end the conversation. But for Dangote, the question was never really about whether he could afford it. It was about priorities.
"When I was focused on buying Arsenal, I was also focused on the refinery getting to its completion," he said. "At the time, Arsenal was worth about 2 billion dollars, so I asked myself, should I put my 2 billion dollars in Arsenal and allow the business to suffer, or continue the business and continue to remain a very big supporter of Arsenal?"
And looking at where Arsenal's valuation stands today, Dangote admits the window has closed entirely.
"Today they are worth billions, and it's not really worth my while at all," he said matter-of-factly.
But make no mistake, the love for the club has never faded. Dangote confirmed that whenever Arsenal plays, he is still right there in his jersey, watching and supporting like any devoted fan.
"Any time that they are playing, I always wear the t-shirt," he said with a smile.
The interview also gave Dangote a platform to speak directly to the next generation of African entrepreneurs, and his message was as straightforward as the man himself.
"My own advice to young African people is to work hard and also have the belief that the future is greater than the current situation that we're in. Africa is a promising land, and they should stay at home," he urged.
From a young trader in Kano to the man who built a $20 billion refinery and almost owned one of the world's biggest football clubs, Aliko Dangote remains, in every sense of the word, a story Africa should never stop telling.