Aliko Dangote, President of Dangote Industries Limited, says he has lived in his current residence for 36 years and has no plans to relocate because he remains comfortable there.
Dangote disclosed this in an interview with ARISE News on Tuesday while speaking about his lifestyle, wealth, business interests and investments in Africa.
The businessman said he had remained in the same home for more than three decades despite his wealth and status.
“You know how long I’ve been here? Thirty-six years. I don’t plan on leaving. I’m very comfortable here,” he said.
Dangote said he preferred the comfort of his home to constantly seeking new luxuries, adding that he often found it difficult to leave his residence after returning in the evening.
“Once I come in in the evening, it’s difficult to take me out of my house,” he said.
He also criticised the spending habits of some wealthy Africans who acquire private jets and other luxury assets without investing in productive ventures.
“What I see is people now owning aircraft all over the place, flying all over, and they don’t have one single factory,” he said.
Dangote said such spending did little to contribute to economic growth and called for a change in the attitude toward wealth and investment.
“So it means that they’re not actually helping in growing the economy, and that has to change,” he said.
According to him, his priority has been to deploy his wealth and business interests toward Africa’s industrialisation, adding that his biggest legacy would be helping to build productive capacity on the continent.
He said foreign investors were increasingly interested in Africa but required large-scale investment opportunities capable of attracting substantial capital.
“Foreigners are very interested now; they want to invest in Africa, but they don’t have big-ticket items,” he said.
Dangote said the emergence of large-scale projects would encourage more foreign investors to participate in developing the continent.
“So right now, they have started seeing big-ticket stuff, and they will join. And we will join to develop our own continent, Africa,” he said.
He said Africa’s economic development required a shift in private capital from luxury and symbols of personal wealth to factories and other productive assets.
According to him, investment in productive ventures would help create jobs, expand manufacturing capacity and promote broader economic growth across the continent.
