President of Dangote Industries Limited, Aliko Dangote, has revealed that he purchased his first private jet when he was just 22 and a half years old.
The billionaire businessman 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-long career in business, Dangote said he had enjoyed the journey but had increasingly become more interested in putting wealth into investments that could generate productive value.
“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 industrialist also called on wealthy Nigerians to reconsider how they deploy their resources, particularly those who spend huge sums acquiring luxury private aircraft.
Dangote urged such individuals to channel more of their wealth into productive sectors that can create economic opportunities and contribute to Nigeria’s development.
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He argued that the country would struggle to reach its full economic potential without increased investment in production and other activities capable of generating tangible 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.