Africa’s richest man, and CEO of Dangote group, Aliko Dangote has urged wealthy Nigerians to shift their focus from luxury items like Rolls-Royce cars and private jets to investing in industries that can drive economic growth and create jobs. He believes that Nigeria’s elite should prioritize investments in manufacturing, agriculture, and infrastructure to boost the country’s economy.
“If you have money for Rolls-Royce, you should go and put up an industry in your locality, or anywhere in part of Nigeria, wherever that you feel there is a need, everybody has a private jet. Those private jets should be in industries, so that we can create jobs.”
Dangote emphasizes that Nigeria’s population growth, with 7.8 million births annually, requires significant investments in power, infrastructure, healthcare, and education. He encourages domestic investors to take the lead, stating that foreign investors will follow when local investors are active and confident in the economy.
The Dangote Group is already making significant investments in Nigeria, including a $20 billion oil refinery and petrochemical complex in Lagos, which will increase the country’s refining capacity and reduce reliance on imports. Dangote’s vision is to make Nigeria a hub for industrialization and economic growth in Africa.
