Business mogul Aliko Dangote has disclosed that he bought his first private jet when he was about 22 years old, while urging wealthy Nigerians to channel more of their resources into productive investments.
Dangote, President of Dangote Industries Limited, made the disclosure on Monday at the Nigerian Exchange in Lagos during the formal launch of the Initial Public Offering of Dangote Petroleum Refinery and Petrochemicals.
Reflecting on his business journey, Dangote said he had enjoyed the privileges that came with his success but had reached a point where he was comfortable using commercial flights.
He said, “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 commercial, I can take anything. I had my first private jet at 22 and a half years old.”
The billionaire businessman, however, encouraged affluent Nigerians who spend heavily on luxury aircraft to consider redirecting part of their wealth towards investments that would expand production and create economic opportunities.
Dangote said Nigeria could only achieve sustainable development if more resources were committed to productive ventures capable of strengthening the economy.
“I try as much as I can to encourage people who are riding $900 million aircraft to please go and put that into production,” he said.
He added, “We are not going to be a great nation without doing something productive.”
Dangote’s remarks came as his refinery and petrochemicals business formally commenced the process of offering shares to the investing public through the Nigerian capital market.
