Africa’s richest man, Aliko Dangote, has strongly criticised the spending priorities of Nigeria’s wealthy class, noting that many prefer to acquire luxury private jets and Rolls-Royce vehicles instead of investing in industries that could create jobs and strengthen the nation’s economy.
According to thecable.ng, the industrialist said Nigeria cannot develop by depending on imports, arguing that importation “is importing poverty and exporting jobs”.
He questioned whether Nigeria can progress without building its own industries, saying the country must prioritise agriculture, industrialisation, and a strong banking system to support growth.
“If you have money for Rolls-Royce, you should go and put up an industry in your locality, or anywhere in part of Nigeria, wherever that you feel there is a need,” Dangote said.
“Everybody has a private jet. Those private jets should be in industries, so that we can create jobs.”
The billionaire said Nigeria must prepare for its rapidly growing population, noting that 8.7 million babies are born each year — a demand that will require massive investments in power, infrastructure, healthcare and schools.
The billionaire said companies must also fulfil their civic responsibility by paying taxes, describing the government as “the number one shareholder” in every business through the tax system.
“What we are looking for is that [the] government should give us an enabling environment to do this. We too, as corporate citizens, we must make sure that we pay our taxes. We must behave. So 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.”
The group president also urged Nigeria to focus less on wooing foreign investors and more on strengthening policies that encourage domestic investment.
