A billionaire is calling out fellow members of the ultra-wealthy class for spending money on luxury items instead of investing in people, jobs, and long-term economic growth.
Aliko Dangote recently expressed frustration with elites who prioritize private jets and high-end cars over projects that could strengthen communities and reduce environmental harm.
The Nigerian is the founder of the Dangote Group, the largest business conglomerate in West Africa and the largest private employer in the country. He has also set up the largest foundation in Africa with a mission of "lifting the most vulnerable people out of poverty through economic empowerment," according to ONE.
According to Bloomberg, Dangote pledged $688 million last month to support education in Nigeria over the next decade, with a focus on STEM.
Nigeria has a long history of wealth inequality, and Dangote argued that his fellow billionaires have an obligation to fulfill their civic responsibility through taxes and other philanthropic efforts.
"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, according to Peoples Daily. "Everybody has a private jet. Those private jets should be in industries, so that we can create jobs."
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Private jets, in particular, are among the most carbon-intensive forms of travel, producing far more pollution per passenger than commercial flights. When wealthy individuals choose this mode of transport as a default, the climate cost is significant.
His message is rooted in practicality as much as principle. According to Peoples Daily, Dangote questioned whether Nigeria can ever progress without building its own industries, arguing that importing goods "is importing poverty and exporting jobs."
He also mentioned that the government and wealthy elite should work more in tandem, citing agriculture, industrialization, and a strong banking system to support the country's growth.
Dangote's message is clear: Real wealth should build economies, not burn fuel. Choosing investment over indulgence could help Nigeria and the planet move toward a more sustainable future.
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