President of Dangote Industries Limited, Aliko Dangote, has revealed that he acquired his first private jet at the age of 22 and a half.
Dangote made the disclosure on Monday while speaking at the Nigerian Exchange in Lagos during the formal launch of the Initial Public Offering of Dangote Petroleum Refinery and Petrochemicals.
Reflecting on his journey in business, the billionaire industrialist said he had enjoyed his career but would now rather see wealth channelled into productive investments.
Dangote said his current outlook on wealth and luxury had changed, noting that he would no longer be concerned about travelling on commercial flights despite having acquired a private jet at a relatively young age.
“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,” he said.
The businessman also called on wealthy Nigerians who spend huge sums on private aircraft to consider investing their resources in sectors capable of increasing production and creating economic value.
According to him, the country cannot achieve sustainable development if its wealth is concentrated on luxury rather than productive activities.
Dangote particularly urged Nigerians who own extremely expensive private jets to redirect part of their wealth towards investments that would strengthen the nation’s productive capacity.
“I try as much as I can to encourage people who are riding $900 million aircraft to please go and put that into production. We are not going to be a great nation without doing something productive,” he said.
He stressed that greater investment in production and economic activities would be critical to Nigeria’s quest for national development and prosperity.