Africa’s richest man, Aliko Dangote, has disclosed that he acquired his first private jet at the age of 22 and a half, while urging wealthy Nigerians to channel more of their resources into productive investments.

Dangote made the disclosure on Monday while speaking at the official opening of the Initial Public Offering (IPO) of Dangote Refinery.

The billionaire businessman reflected on the growth of his wealth and lifestyle while making a broader argument about the need for Nigeria’s wealthy citizens to contribute more directly to economic production.

According to Dangote, although he purchased a private jet at a relatively young age, he is no longer particularly concerned about the luxury associated with private aviation.

He said that at his current stage in life, he travels either by private jet or commercial aircraft, depending on the circumstances.

The businessman used his remarks to encourage individuals who can afford aircraft worth tens of millions of dollars to consider investing some of their wealth in factories and other productive ventures.

How To Apply For FG-Backed 2027 Commonwealth Master’s, PhD Scholarships

Dangote argued that Nigeria would struggle to achieve its full potential unless the country increases its level of productivity.

He said wealthy Nigerians should consider how their investments can create businesses, employment and economic value rather than concentrating excessively on luxury purchases.

The industrialist illustrated his point with an experience in Abuja, where he said he spent about 30 minutes looking for a parking space.

Dangote said the experience made him wish the available space had been occupied by factories and productive businesses rather than private jets.

“I had my first private jet at 22 and a half years old,” Dangote said.

He added that he had consistently encouraged people who own aircraft worth $90 million or $100 million to consider putting such resources into productive investments.

The billionaire stressed that building a prosperous country requires more than individual wealth accumulation, arguing that resources must also be deployed toward activities capable of expanding production.

Dangote’s comments came as attention focused on the public offering of shares in his refinery, one of the major industrial investments associated with his business empire.

The refinery has been positioned as a major part of Nigeria’s efforts to strengthen domestic refining capacity and reduce dependence on imported petroleum products.

By highlighting his own early experience with private aviation, Dangote appeared to contrast personal luxury with the broader economic benefits that can come from investing in productive industries.

His message was directed particularly at Nigerians with substantial financial resources, whom he encouraged to consider factories and other businesses as vehicles for wealth creation and national development.

The businessman maintained that increased productivity is essential if Nigeria is to become a stronger and more prosperous economy.

His remarks also touched on a broader debate about wealth, consumption and investment in Nigeria, where private luxury spending by affluent individuals often attracts public attention amid concerns over unemployment, infrastructure and economic opportunities.

For Dangote, the priority should be to increase production and expand the industrial base.

He therefore urged wealthy Nigerians to look beyond the prestige associated with expensive aircraft and consider investments that can contribute to manufacturing, employment and economic growth.

The comments underline the industrialist’s long-standing emphasis on production and large-scale investment as important drivers of Nigeria’s economic transformation.