I don’t own any house outside Nigeria, even where I stay in Abuja is rented, says Dangote
By Ishaya Ibrahim
Africa’s richest man, Alhaji Aliko Dangote, on Sunday, shocked Nigerians with the revelation that he owns no house outside the shores of Nigeria.
Even in Nigeria, Dangote said he only has two houses, one in his home state of Kano and another in Lagos from where he runs his vast global business interests. Even the house he stays in Abuja, Nigeria’s political capital, is rented, he disclosed.
Dangote made the disclosure on Sunday at a parley with media executives at the vast Dangote Refinery complex in Ibeju-Lekki, Lagos.
For Dangote, having houses in London or the United States of America would distract him from his major focus, which is making Nigeria an industrial hub.
The billionaire industrialist said, “The reason I don’t have a London or American house is solely because I wanted to focus on industrialisation in Nigeria.
“I figured that if I had those houses, there would be one reason or the other for me to visit those places, thereby causing distraction for me.
“I am very passionate about the Nigerian dream, and apart from my Lagos house, I have another one in my home state, Kano, and a rented one in Abuja.”
Besides, Dangote said acquiring exotic properties abroad, the pastime of the average Nigerian rich man, does not add value to his money.
Rather than adding value, he said such acquisitions will diminish his wealth as more money would be needed to maintain the houses even when he does not live in them.
He reiterated that such would reduce his investible funds which he would have ploughed back into his businesses to create more value and jobs for Nigerians.
Dangote whose actions easily portray him as a patriot and nationalist said he prefers to stay in hotels overseas because he can only be charged for services rendered by the hotel.
“I don’t own a house, not even a nine-inch block outside Nigeria. Apart from Lagos and Kano, I don’t have any house anywhere. The house I live in at Abuja is on rent,” he reiterated for the sake of emphasis.
Dangote explained that he never wanted to be rich but to be wealthy. He said there is a difference between being rich and being wealthy.
“A rich person amasses money and more money for himself and immediate family but a wealthy man creates wealth for the society,” he explained as he took the media chiefs through the operations of his numerous companies ranging from fertiliser, petrochemical, agriculture, cement, sugar, among others.
Dangote said he opted to create wealth because the larger society benefits from it as against amassing cash for his family.
“If I wanted to just be rich, I would have invested in Google, Microsoft, or in Elon Musk’s projects and watch my money grow in dollars. But that way, the Nigerian and African society loses. I would not have bothered about building factories and creating jobs,” he said, adding “there is more fulfilment in what we are doing.”
In her remarks, the Group Executive Director, Commercial Operations of the Dangote Group, Fatima Dangote, praised her father’s diligence and perseverance in achieving the Nigerian dream.
Fatima stated, “I have not seen anyone as hardworking as my father. Sometimes I wonder how he never gives up.
“I wish we had a few more men like my father in Nigeria. The country will be a better place.”
Earlier, Dangote disclosed that the Nigerian National Petroleum Corporation (NNPC) now owns only a 7.2 per cent stake in the refinery.
He said the stake reduced from the initial 20 per cent, saying, “NNPC no longer owns a 20 per cent stake in the Dangote Refinery. They were supposed to pay their balance in June but have not fulfilled the obligations. Now, they only own a 7.2 per cent stake in the refinery.”
