Aliko Dangote has challenged Nigeria’s wealthy to think beyond personal comfort and turn more of their wealth into investments that can expand production, create jobs and strengthen the economy.
The billionaire businessman said the country could not become a great nation if substantial private wealth continued to flow into luxury instead of productive ventures.
Dangote made the call on Monday in Lagos during the formal launch of the Initial Public Offering of Dangote Petroleum Refinery and Petrochemicals on the Nigerian Exchange.
He particularly urged wealthy Nigerians who spend heavily on luxury assets, including expensive private aircraft, to consider putting their resources into businesses that generate economic value.
“I try as much as I can to encourage people who are riding $900 million aircraft to please go and put that into production,” Dangote said.
“We are not going to be a great nation without doing something productive.”
Using his own experience, Dangote said his priorities had changed over the years despite achieving considerable wealth at a young age.
He disclosed that he bought his first private jet at 22 and a half, but said he could now comfortably travel on a commercial flight.
“My career as a businessman, I really had a great time. I was telling somebody that right now I don’t mind, I can take a commercial, I can take anything,” he said.
The remarks came as Dangote moved to widen public ownership of his refinery through the IPO, allowing investors to acquire shares in the three-year-old facility.
His message was therefore not simply about luxury, but about how private wealth can be deployed to build productive capacity and contribute to Nigeria’s economic development.