The Gunners are currently owned by Kroenke Sports & Entertainment, and there has been no recent indication that they are planning an imminent sale.
However, Dangote, who is regarded as the richest man in Africa, has revealed that he has plans to purchase the Premier League giants in the near future.
Speaking to The David Rubenstein Show, Dangote said: "We will go after Arsenal from 2020. Even if somebody buys, we will still go after in.
"It is a team that yes I would like to buy some day, but what I keep saying today is we have $20bn worth of projects and that's what I really want to concentrate on.
"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."
As recently as August, director Josh Kroenke suggested that KSE had long-term plans for the North London side.