I bought my first private jet at 22 — Dangote

Businessman Aliko Dangote has revealed that he bought his first private jet at the age of 22 and a half.

The President of Dangote Industries Limited disclosed this 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 decades in business, Dangote said he had enjoyed his entrepreneurial journey but was now more interested in seeing wealth channelled into investments that generate economic value.

He said his experience had given him the opportunity to enjoy the luxuries associated with wealth, including owning a private aircraft 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,” Dangote said.

The billionaire industrialist, however, urged wealthy Nigerians to reconsider spending heavily on luxury assets and instead invest more of their resources in productive sectors.

Dangote particularly called on owners of expensive private aircraft to channel some of their wealth into businesses capable of increasing production and creating economic opportunities.

“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 Nigeria’s economic transformation would depend on increased investment in productive activities rather than excessive consumption of luxury goods.

Dangote made the remarks as his refinery’s public offer commenced trading-related activities, providing investors with an opportunity to acquire shares in one of Africa’s largest industrial projects.