Billionaire businessman sells off houses 

• By Philippine

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Africa’s richest man, Aliko Dangote, has disclosed that he sold off his luxury properties in the United States and the United Kingdom to focus fully on building his industrial empire in Nigeria.

The 69-year-old billionaire made the revelation during a recent podcast interview with Nicolai Tangen, where he spoke about discipline, business philosophy and long-term investment goals.

According to the President of the Dangote Group, owning expensive mansions abroad could become a distraction for entrepreneurs pursuing ambitious business goals.

“When I decided to go into the industry, I sold all my properties in the US. I had two big mansions in the US and a house in the UK. I wanted to really sit in Nigeria and concentrate,” Mr Dangote said.

The billionaire businessman explained that he prefers staying in hotels during foreign trips because it offers convenience and eliminates the burden of maintaining overseas properties.

“Sometimes, when you own a holiday home anywhere, you have to create time to go and use that property. Now my life is very simple. Wherever I go, I use hotels; I pay. When I leave, nobody will call me about any issue,” he said.

Mr Dangote also highlighted the strict work ethic that has shaped his success, noting that he treats business as a hobby rather than a burden.

“People see that I work so hard, do you know why? It is because I take my business as my hobby. If I take my business as a joke, I won’t work this hard,” he said.

He added that his daily routine involves sleeping by 11 p.m., waking up at 5 a.m., exercising before work and spending long hours in the office alongside his employees.

The businessman said long-term planning remains central to the operations of the Dangote Group, revealing that the company already has strategic targets mapped out for 2030.

“So I’m committed to what I do. I always create a vision. It’s like now, we have a vision for 2030, so I have targets to meet,” he said.

Mr Dangote further explained that many of the group’s investments are driven by a backward integration strategy aimed at producing locally what Nigeria previously depended on imports for.

“We produce what the people need. When you wake up every morning, you are using part of what we produce,” he said.

The strategy has continued to shape the conglomerate’s operations across cement manufacturing, sugar refining, fertiliser production, petrochemicals and petroleum refining.