Omokri Takes on Nigeria’s Jet-Set Lifestyle: ‘Private Jets and Yachts Are Liabilities’

Former presidential aide Reno Omokri has reignited public debate on wealth and extravagance after declaring that private jets, yachts, and luxury homes abroad are not symbols of prosperity but costly liabilities.

In a post on his official X handle on Sunday, Omokri argued that many of Nigeria’s wealthy elite confuse vanity with financial wisdom, insisting that “true riches” come from assets that appreciate and generate income rather than luxuries that drain resources.

“Do not see private jet ownership as a sign of wealth. More often, it is a testament to stupidity,” he wrote, noting that maintaining a private jet costs between $500,000 and $1 million annually, even when grounded.

His remarks cut against the grain of Nigeria’s high-profile jet owners, a list that includes Africa’s richest man Aliko Dangote, billionaire Femi Otedola, telecoms tycoon Mike Adenuga, Adedeji Adeleke, politician Ned Nwoko, and entertainment stars such as Wizkid and Davido.

Religious leaders like Apostle Johnson Suleman and Pastor Enoch Adeboye are also part of the country’s growing circle of private jet users.

While these figures often cite convenience, security, and global mobility as reasons for their ownership, Omokri countered that only individuals running vast multinational operations, like Dangote, have a practical need for private jets. For others, he argued, it is largely vanity.

“Except you are buying them to rent out, it makes no financial sense,” he wrote. “Every day, whether you are flying or not, it costs thousands of dollars just to park and maintain a jet or yacht.”

Omokri extended his critique to luxury real estate abroad and the craze for the latest iPhones, warning that Nigerians often confuse liabilities for assets.

He advised that genuine wealth is built on investments such as stocks, mutual funds, and businesses, while “new money” wastes resources on depreciating purchases.

The comments have since triggered heated conversations online, especially given Nigeria’s cultural obsession with high-end lifestyles.

To Omokri, the debate underscores a hard truth: “Jets and yachts project status, but assets create wealth.”