Alhaji Aliko Dangote, President of the Dangote Group, has criticised wealthy Nigerians who prioritise luxury spending over productive investments, warning that the country cannot create jobs or grow its economy if its elites continue to favour Rolls-Royce vehicles and private jets instead of building industries.
Speaking with journalists, Dangote said Nigeria must urgently shift from a consumption-driven economy to one anchored on production, arguing that heavy reliance on imports amounts to “importing poverty and exporting jobs”.
“If you have money for a Rolls-Royce, you should go and put up an industry in your locality, or anywhere in Nigeria where you believe there is a need,” he said. “Everybody has a private jet. Those private jets should be in industries, so that we can create jobs.”
He said industrial investment is essential to reducing unemployment, noting that Nigeria’s fast-growing population — with 8.7 million babies born annually — will require millions of new jobs, more schools, better hospitals, and expanded infrastructure.
Dangote stressed that agriculture, manufacturing, and a strong financial system must remain central to economic development. Without local production capacity, he warned, Nigeria would continue exporting opportunities to countries whose factories produce goods imported into the domestic market.
He urged companies to fulfil their civic obligations by paying taxes, describing government as “the number one shareholder” through its collection of revenue.
“What we are looking for is that government 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 is a partnership,” he said. “If 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 US for medicals. We do it here.”
Dangote said Nigeria must also strengthen policies that encourage local investors to expand into manufacturing and other productive sectors.
He added that his group’s investments in cement, petroleum refining, fertiliser, and food processing demonstrate that long-term prosperity depends on industries capable of absorbing the country’s growing labour force.
“If Nigeria wants to develop, we must prioritise local industry. That is the only way we create sustainable jobs,” he said.
