Dangote: I Bought My First Private Jet at 22

Aliko Dangote, President of Dangote Industries Limited, has disclosed that he acquired his first private jet at the age of 22 and a half.

Dangote made the disclosure on Monday in Lagos while speaking at the Nigerian Exchange during the formal launch of the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals.

Reflecting on his decades-long career in business, the billionaire industrialist said he had enjoyed the privileges that came with his success but would now rather see wealth directed towards productive investments.

“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.

He, however, urged wealthy Nigerians who spend heavily on luxury assets, including private aircraft, to consider channeling more of their resources into productive sectors capable of expanding the economy.

According to him, Nigeria cannot achieve sustainable economic development without significant investment in production and other activities that generate jobs, wealth and 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,” he said.

Dangote’s remarks came as his refinery and petrochemicals business formally commenced the process of offering shares to the Nigerian investing public through an IPO, in what is expected to deepen domestic participation in the company and the broader capital market.