Billionaire industrialist, Aliko Dangote has once again emphasized the urgent need for Nigerians to invest in their country, arguing that domestic entrepreneurship must lead the charge in driving sustainable development. In a candid conversation about Nigeria’s economic trajectory, Dangote reflected on policies during the military era, noting that even the nation’s leaders adhered to modest standards.
“Back then, everyone from the president downwards was using the Peugeot 504,” Dangote said. “When the president is using a 504, you as a private citizen cannot be flaunting a Rolls-Royce. If you have that kind of money, the expectation is that you invest in an industry that benefits your community or the nation.”
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Dangote also expressed concern over the proliferation of private jets among wealthy Nigerians. “Sometimes it pains me when I go to local airports,” he said. “Even finding parking for planes is almost impossible. Those private jets could instead be invested in industries that create jobs and strengthen our economy.”
With Nigeria’s population growing by an estimated 8.7 million each year, the industrialist stressed the urgent need to provide power, infrastructure, healthcare, and education. “Corporate citizens have a duty to pay taxes and operate responsibly,” he said. “In Nigeria, the government is the number one shareholder in every company. But it’s a partnership. If the government provides the environment for business, we must fulfill our civic responsibilities. Paying taxes ensures that children go to school and hospitals function effectively.”
Dangote also addressed the role of foreign investment, emphasizing that domestic investors are the true catalysts for economic growth. “No foreign investor will come if domestic investors are not committed,” he explained. “Good policies, strong governance, and rule of law are what attract investment. Once we industrialize our country, foreigners will partner with us, but we must first remove both real and perceived risks.”
Looking back at Nigeria’s textile industry, Dangote recounted the difficulties that led to mass layoffs. “We had to lay off 7,000 workers in a single day because smuggling and policy failures made it impossible to sustain the industry,” he said. “We’ve learned from that. Today, Nigeria must industrialize, and nobody will do it for us.”
He used a simple but powerful analogy to illustrate his vision for the nation. “It’s like a restaurant. Nobody needs to advertise if the food is good. People will come and tell others. That’s how we build our country: by creating real value that naturally attracts investment.”
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The discussion, held during a routine meeting with His Excellency, served as a reminder that sustainable growth in Nigeria depends on domestic entrepreneurship, responsible corporate citizenship, and a shared commitment to industrialization. Dangote’s message is clear. Nigeria’s future lies in the hands of those willing to invest in its people, its industries, and its potential.
