Aliko Dangote, president of Dangote Group, has called on Nigerian billionaires who own private aircraft valued at as much as $900 million to redirect more of their wealth into productive investment within the country.
Dangote urges investment in production
He made the appeal on Monday while speaking at the formal launch of Dangote Refinery’s initial public offering on the Nigerian Exchange Limited. Dangote said Nigeria could not achieve national greatness unless its wealth was used to create productive economic activity.
He added that he purchased his first private jet when he was 22 and a half years old.
“I do everything possible to persuade those flying in $900 million aircraft to channel that money into production. Nigeria will not become a great nation unless we engage in productive work,” Dangote said.
Dangote Refinery IPO opens
The refinery’s offering, which has a total valuation of N2.15 trillion, began on Monday, September 14, on the Nigerian Exchange.
- The offer comprises 4.1 billion newly issued ordinary shares.
- Each share is priced at N525.
- Investors must subscribe for at least 10 shares.
- The minimum investment is N5,250.
