Dangote Reveals He Bought First Private Jet at 22, Urges Wealthy Nigerians to Invest in Production

Africa’s richest man and President of Dangote Industries Limited, Aliko Dangote, has revealed that he acquired his first private jet at the age of 22 and a half.

Dangote made the disclosure on Monday, September 14, 2026, while speaking at the Nigerian Exchange (NGX) in Lagos during the formal launch of the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals. The event marked the commencement of the refinery’s ₦2.15 trillion public offering.

Reflecting on his decades-long business journey, Dangote said he had enjoyed the privileges that came with his success but now considers productive investment more important 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.”

The billionaire businessman used his personal experience to encourage wealthy Nigerians to channel more of their resources into businesses and productive ventures capable of creating jobs, strengthening the economy and increasing national output.

Dangote specifically appealed to Nigerians who spend heavily on private aircraft to consider investing part of their wealth in manufacturing and other productive sectors.

“I try as much as I can to encourage people who are riding $90 million, $100 million aircraft to please go and put that into production. We are not going to be a great nation without doing something productive,” he said.

He further illustrated his point by recounting an experience in Abuja, saying he spent about 30 minutes looking for parking and wished the available space could instead have been occupied by factories.

“I say I wish the place was full of factories, not private jets,” Dangote added.

Dangote advocates productive wealth

Dangote’s remarks come as his refinery opens its landmark IPO, offering 4.1 billion ordinary shares at ₦525 per share. The minimum subscription is 10 shares, valued at ₦5,250, while the offer is scheduled to close on October 13, 2026. If fully subscribed, the offer could raise approximately ₦2.15 trillion.

The businessman has positioned the IPO as an opportunity for Nigerians to participate directly in the ownership of one of Africa’s largest industrial projects.

The refinery has also targeted broad participation from Nigerian investors, with the company previously saying it hoped to attract as many as 10 million domestic investors through a technology-driven subscription process.

Dangote’s latest comments therefore place the refinery IPO within a broader argument for wealth creation through investment in production, manufacturing and infrastructure rather than conspicuous consumption.

For Dangote, the message is clear: Nigeria’s economic transformation will depend not only on the accumulation of private wealth but also on how that wealth is deployed to create productive capacity.

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