Aliko Dangote, Chairman of Dangote Group, has urged wealthy Nigerians to channel their resources from luxury items, such as Rolls-Royce cars and private jets, into industries that can stimulate economic growth and create jobs.
Speaking after a meeting with President Bola Tinubu at Aso Rock, Dangote stressed that local investment, rather than ostentatious spending, is critical to national development and the creation of opportunities for millions of citizens.
Dangote highlighted the rapid population growth in Nigeria, noting that the country sees nearly nine million new births annually. He argued that this demographic trend makes it essential to invest in manufacturing, agriculture, infrastructure, and power.
He also warned that over-reliance on foreign investors is unsustainable, emphasising that domestic investors must take the lead to attract meaningful international partnerships.
The billionaire businessman revealed that the Dangote Refinery will soon produce surplus volumes, allowing Nigeria to export excess fuel and reduce scarcity across West Africa.
He reiterated his call for Nigerians to embrace local products and industries, framing tax compliance and reinvestment as civic responsibilities that strengthen the economy and support essential public services.
