{"id":199984,"date":"2024-07-15T16:46:45","date_gmt":"2024-07-15T16:46:45","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/07\/15\/why-i-dont-own-a-residential-property-abroad-aliko-dangote-explains\/"},"modified":"2024-07-15T16:46:45","modified_gmt":"2024-07-15T16:46:45","slug":"why-i-dont-own-a-residential-property-abroad-aliko-dangote-explains","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/07\/15\/why-i-dont-own-a-residential-property-abroad-aliko-dangote-explains\/","title":{"rendered":"Why I don\u2019t own a residential property abroad \u2013 Aliko Dangote explains \u2013"},"content":{"rendered":"<p><\/p>\n<div>\n<p><strong>For most wealthy individuals, owning assets and properties comes with various motivations.<\/strong><\/p>\n<p>This can often be associated with diversified investments, luxury, status, or residential use.<\/p>\n<p>For Nigerian industrialist Aliko Dangote, who is also the wealthiest person in Africa, not having a residential property abroad is based on his primary focus on industrialization at home.<\/p>\n<p>Speaking at a gathering in Nigeria over the weekend, Dangote shared that despite his vast wealth, he does not own a residential property abroad.<\/p>\n<p>He explained that his only residential properties are his house in Lagos, Nigeria; the one in his hometown of Kano, also in Nigeria; and a rented property in Abuja, Nigeria.<\/p>\n<p>\u201cThe reason I don\u2019t have a London or America house is solely because I wanted to focus on industrialization in Nigeria,\u201d he said.<\/p>\n<p>\u201cI 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.<\/p>\n<p>\u201cIf I have houses all over, in America and co, I would not be able to concentrate and build something for my people,\u201d Dangote said.<\/p>\n<p>Recently, Aliko Dangote has been in the news for the operationalization of his Dangote Refinery, which is currently producing diesel products in Nigeria.<\/p>\n<p>The $19 billion investment, which opened in May 2023, will have the capacity to produce 650,000 barrels per day once fully operational.<\/p>\n<p>The refinery, about the size of 4,000 football fields, is located at the Lekki Free Zone outside of Lagos, Nigeria.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"\/>\n<p>ghanaweb.com <\/p>\n<p><!-- CONTENT END 1 --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>For most wealthy individuals, owning assets and properties comes with various motivations. This can often be associated with diversified investments, luxury, status, or residential use. For Nigerian industrialist Aliko Dangote, who is also the wealthiest person in Africa, not having a residential property abroad is based on his primary focus on industrialization at home. Speaking [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":199986,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-199984","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Why I don\u2019t own a residential property abroad \u2013 Aliko Dangote explains \u2013 - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/07\/15\/why-i-dont-own-a-residential-property-abroad-aliko-dangote-explains\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why I don\u2019t own a residential property abroad \u2013 Aliko Dangote explains \u2013 - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"For most wealthy individuals, owning assets and properties comes with various motivations. This can often be associated with diversified investments, luxury, status, or residential use. For Nigerian industrialist Aliko Dangote, who is also the wealthiest person in Africa, not having a residential property abroad is based on his primary focus on industrialization at home. 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