I bought my first private jet at 22: Dangote

Chairman of Dangote Industries Limited, Aliko Dangote, has revealed that he purchased his first private jet at the age of 22 and a half.

Dangote made the disclosure on Monday at the Nigerian Stock Exchange in Lagos during the formal launch of the initial public offering of Dangote Oil Refinery and Petrochemicals.

The billionaire industrialist was reflecting on his journey in business when he revealed how early he began to enjoy the privileges that came with his growing success.

“I’ve really enjoyed my career as a businessman. I was telling someone I don’t mind for now, I can advertise, I can take anything. I got my first private jet at 22 and a half,” he said.

Dangote, one of Africa’s most prominent industrialists, said his long experience in business has given him a different perspective on wealth and how it should be used.

He said wealthy Nigerians should consider putting more resources into productive investments that can contribute to the country’s economic growth rather than spending heavily on luxury.

Dangote urges wealthy Nigerians to invest in manufacturing

The businessman specifically appealed to Nigerians who own expensive private planes to consider redirecting such resources into productive ventures.

According to him, the country cannot reach its full economic potential if significant amounts of private wealth are not channeled into manufacturing and other activities that create economic value.

“I try as much as possible to encourage people who fly $900 million airplanes to put them into production. We won’t be a great nation without doing something productive,” Dangote said.

He stressed that greater investment in manufacturing would help Nigeria build a stronger economy and create opportunities beyond individual accumulation of wealth.

His comments came as Dangote Oil Refinery and Petrochemicals formally entered the Nigerian capital market through its initial public offering.

The launch of the IPO on the Nigerian Stock Exchange in Lagos marked another important milestone in the development of Dangote’s business empire, while providing investors with an avenue to participate in the company.

Dangote continued to promote industrial investment as a major driver of economic development, particularly through large-scale projects aimed at boosting domestic production.

The businessman said his experience has shown that wealth can be accumulated at a relatively young age, but he now believes the more important goal is to ensure that such wealth is deployed in ways that benefit the wider economy.

The reveal of his first private jet also offered a glimpse into Dangote’s early business successes, having purchased the plane at just 22-and-a-half years old.

Recalling that time, he said he no longer placed the same emphasis on personal luxury and that he felt comfortable using commercial flights or other modes of transportation.

Dangote’s remarks ultimately focused on the need for Nigerians with significant financial resources to go beyond consumption and invest in productive sectors that can strengthen the economy.

He said Nigeria could not become a great nation without a stronger commitment to productive production and investment.