LAGOS, Nigeria—Africa’s richest person, industrial titan Aliko Dangote, has a lofty goal: He wants to become Nigeria’s John D. Rockefeller, using his wealth to transform his homeland.

Billionaire Aliko Dangote has seen his wealth nearly double to $23.9 billion, according to Forbes, which ranks the Nigerian entrepreneur as the wealthiest person in Africa and 86th in the world.

Aliko Dangote also described the refinery project as the most significant risk of his life, acknowledging the financial, regulatory, and operational hurdles he has encountered thus far.

Billionaire Aliko Dangote has seen his wealth nearly double to $23.9 billion, according to Forbes, which ranks the Nigerian entrepreneur as the wealthiest person in Africa and 86th in the world. It ...