The Chairman of Dangote Group, Aliko Dangote, has called on the elite in the country to redirect funds currently spent on luxury items such as Rolls-Royce cars and private jets into establishing industries that drive economic growth and create employment opportunities.
Speaking with our correspondents after a meeting with President Bola Tinubu at Aso Rock Villa on Saturday, Dangote lamented the culture of extravagant consumption, stressing that the nation’s development depends heavily on the responsibility of local investors.
“If you look at the Nigerian policy before, during the military, everybody from the president downwards used Peugeot 504. That was the highest. So, when a president is using 504, you cannot come as a commoner, as a businessman, or whoever you are, to be using Rolls-Royce,” he said.
Dangote criticised the proliferation of private jets at Nigerian airports, arguing that such wealth would be better invested in productive ventures.
If you have money for a Rolls-Royce, you should go and put up an industry in your locality or anywhere in Nigeria where there is a need.
“It pains me when I go to the local airport, whether here or in Lagos, and even finding a parking space for your plane is impossible because everybody has a private jet. Those private jets could be in industries creating jobs,” he added.
Dangote emphasised that national development requires a strong focus on manufacturing and agriculture, supported by robust banking systems.
He also highlighted the urgent need for job creation, noting Nigeria’s population grows by 8.7 million babies every year, which demands significant investments in infrastructure and power.
“Some people may not know the position of the country as we speak. Population growth is 8.7 million babies every year. So we need to deliver power, infrastructure, and other essentials,” he said.
