Business
Dangote Regrets Not Buying Arsenal for $2B
Aliko Dangote, Chairman of the Dangote Group, has expressed his regret over missing the opportunity to purchase Arsenal Football Club for $2 billion.
Speaking during an interview with Bloomberg’s Francine Lacqua in New York, Dangote acknowledged that the window for acquiring the Premier League team had likely closed.
Reflecting on past ambitions, Dangote explained that he had once seriously considered buying the club after completing his refinery project.
However, the rapid increase in football club valuations and Arsenal’s current success made the acquisition less feasible.
He pointed out that when he initially entertained the idea, Arsenal was not performing well on the field, making the purchase more attractive at the time.
Now, with the club’s value reportedly soaring to $4 billion, Dangote noted that he no longer has the excess liquidity to pursue such a venture.
He emphasized that his resources were better utilized in completing his business projects, which he viewed as more critical to his overall strategy.
While the opportunity to buy Arsenal has passed, he remains a passionate supporter of the club, continuing to follow their games and cheer them on as a devoted fan.
Despite his regret over not seizing the opportunity earlier, Dangote reiterated that his decision was influenced by practical considerations.
He expressed satisfaction with his role as a fan and major supporter, acknowledging that the money used to purchase the club could have been better spent on his various business ventures.
Looking back, he admitted that Arsenal’s rising fortunes have only deepened his sense of missed opportunity, but he remains committed to focusing on his core business interests moving forward.
MTN has moved closer to acquiring IHS Holding, following shareholder approval of the proposed takeover, marking another major milestone in the transaction.
The approval was secured during the Extraordinary General Meeting (EGM) held on 4 August, allowing the deal to progress to the next stage.
If completed, the acquisition is expected to strengthen MTN’s infrastructure capabilities by giving the company greater control over its telecommunications tower assets. Industry analysts believe the move could improve network efficiency, reduce long-term operating costs, and support MTN’s continued expansion across its markets.
The transaction is still subject to regulatory approvals and other closing conditions before it can be officially completed.
Nigeria’s three biggest cement manufacturers—Dangote Cement, BUA Cement, and HBM Nigeria—generated a combined ₦3.2 trillion in revenue during the first half of 2026.
The strong performance was driven by higher cement prices, increased demand from housing and infrastructure projects, and higher sales volumes across the country.
Compared to the same period in 2025, the companies recorded 26.5% revenue growth, showing that Nigeria’s construction sector continues to expand despite economic challenges. The companies also reported stronger profits and are investing further to increase production capacity to meet future demands.
Nigerian fintech company OPay has introduced new security features to improve the safety of its application.
The company unveiled the Emergency Lock and Safety PIN features to give customers better control over their funds and provide added protection against fraud and unauthorized transactions.
The Emergency Lock feature allows customers to instantly freeze their OPay account with a single tap whenever they sense a threat or believe their account may be at risk.
The newly launched Safety PIN introduces an additional layer of security, helping customers protect themselves in situations where they may be forced to make a transfer or payment against their will.
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