The Nigerian billionaire has long been linked with a move for the Gunners, who are owned by American billionaire Stan Kroenke as part of Kroenke Sports & Entertainment (KSE).
“It is a team that yes I would like to buy some day, but what I keep saying today is we have $20 billion worth of projects and that’s what I really want to concentrate on,” Dangote told the David Rubenstein Show.
“I’m trying to finish building the company and then after we finish, maybe some time in 2021 we can.
“I’m not buying Arsenal right now, I’m buying Arsenal when I finish all these projects, because I’m trying to take the company to the next level.”
KSE have been criticised by Arsenal supporters in recent times with the side struggling to challenge at the top of the Premier League and failing to qualify for the Champions League.
However, KSE director Josh Kroenke said they were committed to returning Arsenal to the top level.
“Our ambitions are silverware,” he said. “Silverware and trophies. I think anything short of that is not a success.
“There are certain things that you have to do to lay foundations to achieve those goals, and I think we’ve done that over the past 12 to 14 months.
“From our coaching staff to our management, there have been significant changes that have gone on and I’m really excited to let those foundations continue to grow and take shape to build a successful future for Arsenal.”
