Business

Why I don’t have a home outside Nigeria – Dangote

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Africa’s richest man, Aliko Dangote has disclosed that he does not have a holiday home anywhere because luxury items distract and take time.

He disclosed this at the 2019 Mo Ibrahim Forum.

The billionaire businessman, who is President of Dangote Group, said that while he does not have a personal home abroad, some of his employees have homes in London.

He warned Nigerians, especially young people, against spending their projected income, stating that such should rather be invested.

Dangote said, “I don’t have any holiday home anywhere. I don’t have a house anywhere but I know people who are working for me…they have houses in London.

“But you see, a lot of people, even the younger ones, we need to be very careful because one of biggest issues with us as Africans is that we spend our projected incomes.

“Once you start doing business [and] it starts doing well, but rather than for you to invest more in the business, you start spending thinking that profit will continue to come.

“There are ups and downs in business so you need to be very focused.”

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John is a University of Lagos-trained journalist. His views are always the end products of a deliberate search for information and knowledge. He has read almost every novel written by Chinua Achebe, Jeffrey Archer and Dan Brown. He is an expert Scrabble and draughts player who is also excellent at swimming. If you know the capitals of 45 African countries by heart, then you are exactly like him.

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