Dangote Reveals He Bought First Private Jet at 22
Reflecting on his decades-long career in business, Dangote said he had enjoyed the benefits of wealth but now places greater value on productive investment than luxury.
President of Dangote Industries Limited, Aliko Dangote, revealed that he bought his first private jet at 22 and a half.
Dangote disclosed on Monday at the Nigerian Exchange (NGX) in Lagos during the formal launch of the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals.
Reflecting on his decades-long career in business, Dangote said he had enjoyed the benefits of wealth but now places greater value on productive investment than luxury.
“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 billionaire businessman used the occasion to encourage wealthy Nigerians, particularly those who own expensive private aircraft, to redirect more of their wealth towards manufacturing and other productive sectors of the economy.
“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.
He stressed the importance of greater investment in Nigeria’s real sector, saying the country would struggle to reach its full economic potential without increased production.
Dangote also linked the decision to list Dangote Petroleum Refinery on the NGX to his broader push to widen participation in the ownership of major businesses and strategic assets.
The IPO comprises 4.1 billion shares priced at N525 each, for a total value of N2.15 trillion. It has been described as the largest public share offering in Nigeria’s capital market.
Dangote spoke at the NGX as activities marking the public offering of shares in the Dangote Petroleum Refinery got underway.
Source: TrendyBeatz
