Aliko Dangote, billionaire and chief executive officer of Dangote Group, PHOTO: Jason Alden/Bloomberg

African richest man insists that he will buy English football club Arsenal as a reward for completing his $10-billion refinery in Lagos.

When completed the refinery will produce 650 000 barrels of oil per day and will make Nigeria Africa's largest exporter of petroleum products.

And the Nigerian billionaire intends to reward himself for achieving that feat by buying Arsenal, a club he supports.

Dangote is worth $12.4 billion according to Bloomberg Billionaire Index and his fortune betters, by about $4.4 billion, that of Arsenal's majority shareholder Stan Kroenke.

“I love Arsenal and I will definitely go for it,” Dangote told Financial Times in a report published on July 11.

"When I buy it, I have to bring it up to the expectations of our supporters.”

This is not the first time Dangote expressed his willingness to buy the London club.

In September 2016, he told Bloomberg TV that "there’s no doubt” he’ll buy Arsenal and “it’s not a problem” of money.

“Maybe in three to four years," he says.

“The issue is that we have more challenging headwinds. I need to get those out the way first and start having tailwinds. Then I’ll focus on this.”

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