I aquired my first private jet at 22 — Dangote

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 at the Nigerian Exchange in Lagos during the formal launch of the Initial Public Offering of Dangote Petroleum Refinery and Petrochemicals.

The billionaire industrialist was reflecting on his journey in business when he disclosed how early he began enjoying the privileges that came with his growing success.

“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.

Dangote, one of Africa’s most prominent industrialists, said his long experience in business had given him a different perspective on wealth and how it should be deployed.

He said wealthy Nigerians should consider putting more of their resources into productive investments capable of contributing to the country’s economic growth rather than spending heavily on luxury.

Dangote urges wealthy Nigerians to invest in production

The businessman specifically appealed to Nigerians who own expensive private aircraft to consider redirecting such resources into productive ventures.

According to him, the country cannot achieve its full economic potential if significant amounts of private wealth are not channelled into production and other activities that create 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. We are not going to be a great nation without doing something productive,” Dangote said.

He stressed that greater investment in production would help Nigeria build a stronger economy and create opportunities beyond individual accumulation of wealth.

His comments came as the Dangote Petroleum Refinery and Petrochemicals formally entered the Nigerian capital market through its Initial Public Offering.

The IPO launch at the Nigerian Exchange in Lagos marked another major stage in the development of Dangote’s business empire, while also providing an avenue for investors to participate in the company.

Dangote has continued to promote industrial investment as a major driver of economic development, particularly through large-scale projects designed to boost domestic production.

The businessman said his own experience showed that wealth could be accumulated at a relatively young age, but he now believes that the more important objective is to ensure such wealth is deployed in ways that benefit the wider economy.

The disclosure about his first private jet also offered a glimpse into Dangote’s early success in business, having acquired the aircraft at just 22 and a half.

While recalling the period, he said he no longer placed the same emphasis on personal luxury and was comfortable using commercial flights or other means of transportation.

Dangote’s remarks ultimately centred on the need for Nigerians with significant financial resources to move beyond consumption and invest in productive sectors capable of strengthening the economy.

He said Nigeria could not become a great nation without a stronger commitment to production and productive investment.