Chairman of Dangote Group, Aliko Dangote, has issued a sharp challenge to Nigeria’s elite, urging them to divert funds currently spent on luxury items like Rolls-Royce cars and private jets into establishing industries that stimulate economic growth and create job opportunities.

Speaking to correspondents after a meeting with President Bola Tinubu at the Aso Rock Villa on Friday, Dangote lamented the culture of extravagant consumption, stating that the nation’s developme’t hinges on the responsibility of local investors.

“If you look at the Nigerian policy before, during the military, everybody from the president downwards, everybody, they were all using 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.

He condemned the ease with which private jets fill Nigerian airports, arguing that such wealth should be channelled into production, saying, “You know, if you have money for Rolls-Royce, you should go and put up an industry in your locality or anywhere, part of Nigeria, wherever you feel there is a need.

“And that’s why, really, sometimes it pains me when I go to the local airport, whether it’s here or Lagos, you see that even finding a parking space for your plane is impossible. Everybody has a private jet. Those private jets will be in industries so that we can create jobs.”

The businessman emphasised that national development requires focus on manufacturing and agriculture, supported by strong bankers.

He highlighted the massive task of job creation, noting that Nigeria’s population grows by 8.7 million babies every year, necessitating huge infrastructure and power delivery efforts.

“Some people, maybe they don’t know the position of the country as we speak, because population growth is 8.7 million babies every year. So 8.7 million babies every year will have to be in a lot of things. We have to deliver power. We have to deliver infrastructure.”

Dangote also framed tax compliance not just as a legal requirement, but as a civic duty and a partnership with the government.

“When you have a company, the number one shareholder is the government, so what we are looking for is that the government should facilitate, they should give us an enabling environment to do this.

“We too, as corporate citizens, must make sure that we pay our taxes. We must behave. It’s a partnership. I cannot be cheating my partner. So when the government now give us the environment of making money, we should also be conscious about doing our own civic duties. That is to pay tax.

“I pay tax, your children will be able to go to school. Your children will be able to go to the hospital. We don’t need to go to Cairo, London, or the U.S. for medicals. We do it here, but, you know, the demands of government is huge. So If the demand of the government is huge, we must do our own bit.”

Dangote also dismissed the over-reliance on foreign investors, stressing that no external investor would commit to Nigeria without strong local participation.

“We should stop calling for foreign investors. There’s no foreign investor who will come here.

“The invitation of a foreign investor is for a domestic investor. What attracts a domestic investor is good policies, good governance, and the rule of law. Once you have this, domestic investors will also be encouraged by the government to come and invest,” he said.

He maintained that once Nigerians invest, foreigners will follow, either to partner or to set up their own operations.

“We must industrialise our country. Nobody will do it but us. So when we industrialise, a foreigner will now come either to partner with us or partner with any Nigerian.

“But we want to remove this perceived risk, the real risk, and also the perceived one. You know, because when you see somebody invest in them, fine. I mean, it’s like what I said to a lot of people. Have you ever seen somebody advertising for a restaurant? Nobody advertises a restaurant at all. Okay, but you go and eat. The food is good. You tell somebody. That person, too, will go and try. So that’s how we want to make our country.”

PUNCH reports that Dangote also stated that the Dangote refinery will soon produce surplus volumes, adding that by February, it will supply 15–20 million litres more than Nigeria needs, which allows exports to neighbouring countries, reducing the incidence of fuel scarcity across West Africa.

He maintained that the industry will thrive, saying, “What we are trying to do is to make Nigeria the refining hub of Africa because African countries, all of them, are importing products and we want to make sure that whatever we consume is produced in our own land.”

Earlier in October, Dangote had also urged Nigerians to embrace homegrown products as a way of strengthening the nation’s economy and creating jobs. (Saturday PUNCH)

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