He expressed regret that he did not purchase the English side squad when it was estimated to be worth $2 billion, saying it seems that the “time has passed” for him to do so.

Following his refinery project, the billionaire business magnate announced in 2020 that he intended to join the North London club.
But Dangote clarified in a New York interview with Bloomberg’s Francine Lacqua that he lost out on purchasing Arsenal because he dedicated his resources to the refinery project.

“I believe that time has passed,” he remarked. When we last spoke during this interview, I said to you that I would try to purchase Arsenal as soon as I finished working at the refinery. However, as you are aware, everything has improved, and Arsenal is currently performing incredibly well as a club. Arsenal wasn’t doing well at the moment.

“I don’t think I have enough extra money to go buy a club for $4 billion, so to speak, and use it for a promotional purpose.

However, I’ll keep being the biggest Arsenal supporter around. Every time they play, I watch their games. I will therefore continue to be a fervent Arsenal fan, but I don’t believe that purchasing Arsenal makes sense right now.
“Actually, I regret not buying it before but you know my money was more needed in completing my project (Dangote refinery) than buying Arsenal,” he remarked in response to the question of whether he regretted not purchasing when Arsenal’s value was lower. You know that if I had spent $2 billion buying the club, I never would have been able to complete my project. Thus, my options were to either complete my assignment or purchase Arsenal.