The founder of the Coscharis Group of Companies, Dr Cosmos Maduka has said he can afford the salaries of most of the people flying private jets in Nigeria.
The Nnewi-born billionaire disclosed this in an exclusive interview with The Complete News in Lagos recently. He opined that with the debt burden hanging on the necks of most of the so called “Billionaires’, they should not be flying private jet.
“Yes, I can pay salaries to most of these boys flying jets in Nigeria”, he declared emphatically.
He berated the larger than life posture and profligacy of most Nigerian billionaires stressing that most of them acquire luxury items just to show up and impress others.
His words, “I get worried over the lifestyle of the so called Billionaires in Nigeria. Can you imagine 250 private jets littered Nnamdi Azikwe International Airport, Abuja . These jets are just wasting there without any economic value.
“Some of them cannot sustain the bogus lifestyle they are living. In no distance time, most of those aircrafts will be recovered by the owners’.
Maduka, while recalling how he turned N200 his uncle gave him after serving him(his uncle) for 7 years in 1976 to a conglomerate worth N50billion in shares capital admonished budding entrepreneurs to have delayed gratification in order to build a lasting success in business.
“People must delay their gratification and build solid business. Most people, especially from the south eastern Nigeria like to show off (I have arrived syndrome). That is not the best way to go. People should learn to leave a moderate lifestyle which will enable them to re-invest into their business and support their business activities rather than showing off that they are wealthy”.
He however, acknowledged that some business tycoons needed private jets to ease their business operations.
I won’t have any problem if Alhaji Aliko Dangote has a private jet because his business activities necessitate that. But unfortunately many young men have this crazy lifestyle. I don’t think it speaks well of us. Looking at the debt profile of some people I don’t think they have they should own private jets.
Asked if he would acquire one soon, Maduka protested saying,” No, not all! I am a leader and as a leader, I must show the way. If I have to buy a private jet, the necessity of it will be overwhelmingly convincing, very compelling when it will become absolutely necessary. There is alternative to all of these things. I use to joke with my friends that they are still working on the tires of my aircraft.
