“Anyone In The Private Sector Who Has Achieved Prominence Today Owes It To IBB” – Aliko Dangote

By Gideon Njoku

Donates N8bn (plus), to IBB’s Presidential Library

An appreciative Aliko Dangote, Africa’s Richest Man, and President/Chief Executive Officer, Dangote Industries Ltd, on Thursday, February 20, 2025, praised former Military President, General Ibrahim Badamasi Babangida, (IBB) to high heavens.

It was not for nothing.

Dangote, who spoke in Abuja at the presentation of IBB’s memoirs, A Journey In Service during which funds were raised for the building of IBB Presidential Library, said there would be no viable private sector in Nigeria today without General Ibrahim Babangida. Dangote let it be known that Babangida is the architect of Nigeria’s private sector. He praised IBB for liberating the private sector in Nigeria during his Government as Nigeria’s Military President.

He said it was Babangida’s transformative policies that encouraged Nigerian investors to play prominent roles in the economy. For instance, Dangote noted, Babangida abolished the era of import licences which helped stimulate domestic industries. Because of Babangida’s initiatives, Dangote said, Nigeria has more private-sector involvement in Africa than any other country. And for that, Dangote revealed, 85% of Nigeria’s GDP comes from the private sector while the Government contributes only 15%

Dangote directly, addressing IBB said:

“Your Excellency, I would like to express my sincere gratitude for all you have done for Nigeria. Many may not realise that you were the architect of the private sector in Nigeria. Anyone in the private sector who has achieved prominence today owes it to you, as you provided us with the necessary licences.

“In the past, we used to struggle to obtain licences through intermediaries, including Indians.

“Your Excellency, I could continue to list all the reforms you introduced that liberated the private sector, which is why Nigeria has more private sector involvement than any other country in Africa. It is only in Nigeria where government’s contribution to GDP is a mere 15%, with the remainder being driven by the private sector.

“I want to thank you once again, and I am confident that future leaders will continue to follow your example, working closely with the private sector.”

On  the IBB Presidential Library project, Dangote broke the ceiling.  He  donated an eye-popping sum of N8 billion, and a firm promise to donate more until the project is completed.

His words: “Your Excellency, based on what I have observed, I believe this project will require, at least,  four years to complete. I would like to contribute N2 billion each year for the next four years, amounting to N8 billion in total. Should the project extend beyond four years, I will continue to contribute N2 billion annually.”

The Chief Launcher and Founder of BUA Group, Abdul Samad Rabiu, donated N5 billion, while his co-Chief Launcher and Founder of the TY Danjuma Foundation, General Theophilus Yakubu Danjuma, donated N3 billion.

The occasion was attended by every who-is-who in Nigeria, almost, including President Bola Tinubu, who was the Chief Host, former President Olusegun Obasanjo, who was the Chairman, forner Heads of State Generals Yakubu Gowon and Abdulsalami Abubakar, former President Goodluck Jonathan and many more.

Former Vice President, Professor Yemi Osinbajo was the Book Reviewer.