Dangote explains why he wants to buy Arsenal within four years

Aliko Dangote is explaining the very reason he's planing to buy the North London club, Arsenal FC within four years.

The 59-year-old Africas richest man outlined his plans in an interview with Bloomberg Television on Wednesday (September 21) in New York.

''Maybe three to four years. 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. It's not about buying Arsenal and just continuing with business as usual. It's about buying Arsenal and turning it around,'' Dangote told Bloomberg. ''I've run a very successful business and I think I can also run a very successful team. Right now, with what we're facing, over $20 billion of projects, I cannot do both.''

Dangote is now at least $2.5 billion poorer since FORBES published its annual ranking of Billionaires in March. At the time, he was worth $15.4 billion. He now has a fortune of $12.9 billion, a fortune decline caused by Nigeria’s recent devaluation of the Naira.

He currently ranked 67th on the Forbes rich list.