Aliko Dangote, Africa’s wealthiest, has raised eyebrows by declaring that he does not own any property outside Nigeria.

The 66-year-old magnate, renowned for his cement and sugar empire, disclosed this during an interview at the Dangote Petroleum Refinery.

His net worth, as reported by Forbes, stands at an impressive $13.9 billion (£10.7 billion), despite Nigeria’s economic challenges.

Dangote clarified that he possesses just two homes: one in his hometown of Kano and another in Lagos. When visiting the capital, Abuja, he resides in a rented apartment. His rationale?

A laser focus on Nigeria’s industrialization. He passionately believes in the “Nigeria dream” and aims to channel resources into local development rather than global real estate.

While many affluent Nigerians own opulent residences abroad, Dangote’s deliberate choice to abstain from such acquisitions has sparked discussions.

Social media reactions vary, with some applauding his business acumen—renting being more cost-effective than buying—while others commend his commitment to national progress.

In a country where ostentatious displays of wealth are common among the elite, Dangote’s stance serves as a refreshing example.

His modest house in Kano, used for hosting guests, contrasts sharply with the luxurious mansions on Lagos’ Banana Island, where other high-profile Nigerians reside.

Public affairs analyst Sani Bala commended Dangote’s approach, emphasizing that owning multiple mansions isn’t an achievement when those funds could be better utilized elsewhere.

Notably, Dangote sold his London house in 1996, reinvesting the proceeds back into his business—a prudent strategy indeed.