Dangote Urges Elite: Shun Rolls-Royce, Invest in Job-Creating Industries

The Chairman of the Dangote Group, Aliko Dangote, has issued a sharp challenge to Nigeria’s elite, urging them to divert the enormous funds currently spent on luxury items like Rolls-Royce cars and private jets into establishing industries that stimulate economic growth and create massive job opportunities.

Dependable NG reports that speaking to correspondents after a meeting with President Bola Tinubu at the Aso Rock Villa on Friday, Dangote lamented the prevalent culture of extravagant consumption, stressing that the nation’s future development hinges on the responsibility and commitment of local investors.

Dangote recalled a period when public officials maintained modesty: “If you look at the Nigerian policy before, during the military, everybody from the president downwards, everybody, they were all using Peugeot 504. That was the highest. So when a president is using 504, you cannot come as a commoner, as a businessman or whoever you are, to be using Rolls-Royce.”

He condemned the ease with which private jets now congest Nigerian airports, arguing that such wealth should be channeled into production: “If you have money for Rolls-Royce, you should go and put up an industry in your locality or anywhere… You see that even finding a parking space for your plane is impossible. Everybody has a private jet. Those private jets will be in industries so that we can create jobs.”

The businessman emphasized that national development requires a focus on manufacturing and agriculture, supported by strong bankers. He underscored the massive task of job creation, noting that Nigeria’s population grows by 8.7 million babies every year, necessitating huge and continuous efforts in infrastructure and power delivery.

Focus on Local Investment & Tax Compliance
Dangote also dismissed the current over-reliance on foreign investors, stressing that no external investor would commit to Nigeria without robust local participation.

“We should stop calling for foreign investors. There’s no foreign investor who will come here. The invitation of a foreign investor is for a domestic investor,” he maintained. He added that good governance, sound policies, and the rule of law are what truly attract investors.

He further framed tax compliance not just as a legal requirement but as a civic duty and a partnership with the government: “When you have a company, the number one shareholder is the government… We too, as corporate citizens, must make sure that we pay our taxes. We must behave. It’s a partnership. I cannot be cheating my partner.”

Dangote Refinery Update
On his own investment, Dangote stated that the Dangote Refinery will soon produce surplus volumes. He revealed that by February 2026, the refinery will supply 15–20 million litres more than Nigeria’s domestic needs, which will allow for exports to neighboring countries and significantly reduce the incidence of fuel scarcity across West Africa.

He concluded: “What we are trying to do is to make Nigeria the refining hub of Africa because African countries, all of them, are importing products and we want to make sure that whatever we consume is produced in our own land.”