“Use Money for Rolls-Royce to Build Industries Instead” — Dangote Tells Luxury Car Owners in Nigeria

Aliko Dangote has urged affluent Nigerians to channel funds typically spent on luxury cars and private jets into building industries that can spur job creation and strengthen the economy.

In a recently circulated interview clip, the Dangote Group chairman expressed concern over what he described as a growing appetite for extravagant spending among the country’s elite. He argued that Nigeria’s development hinges on local investors embracing their responsibility to drive industrial growth.

Dangote said those capable of purchasing high-end vehicles should instead consider establishing factories in communities where economic opportunities are scarce. He added that the proliferation of private jets at airports in Lagos and Abuja highlights misplaced priorities, noting that such resources could be used to generate employment.

With Nigeria’s population rising by an estimated 7.8 million births annually, Dangote stressed that the country urgently needs expanded power supply and infrastructure. He acknowledged that taxation is heavy but maintained that businesses must meet their obligations, describing the government as the “number one shareholder” in any company operating in Nigeria.

He called for a business environment that supports growth while reminding corporate leaders of their civic duty to pay taxes to improve services and retain talent within the country.

Dangote also urged a shift away from reliance on foreign investors, arguing that domestic investment is the true catalyst that attracts global capital. Stable policies and adherence to the rule of law, he said, are key to sustaining investor confidence.

Reflecting on past challenges, he recalled the collapse of his textile operations, which once forced the company to lay off 7,000 workers in a single day—an experience he described as painful but instructive. Despite setbacks, he emphasized that Nigeria must continue pushing toward industrialization to secure its economic future.