Aliko Dangote Hails IBB as Architect of Private Sector in Nigeria

Africa’s wealthiest man, Aliko Dangote, has praised former Head of State, Gen. Ibrahim Badamasi Babangida, for implementing policies that liberated the private sector in Nigeria during his regime.

Dangote made this statement on Thursday during the unveiling of the book “A Journey in Service”, the autobiography of the former Head of State. The event also served as a fundraiser for the IBB Presidential Library.

Dangote donated N8 billion to the IBB Presidential Library, to be paid at a rate of N2 billion annually over the four-year period allocated for the project’s completion.

He further pledged that if the project extends beyond this timeframe, he would continue to donate N2 billion annually until it is finished.

The business mogul commended Babangida for his transformative policies that encouraged Nigerian investors to play prominent roles in the economy.

He particularly highlighted the abolition of import licences, which helped stimulate domestic industries.

These reforms, among others, ensured that Nigeria now has more private sector involvement than any other country in Africa.

This shift, he said, led to a contribution of 85% of the country’s GDP from the private sector, while the government contributes just 15%.

Dangote recalled how Babangida’s policies facilitated the growth of Nigerian businesses, enabling them to thrive.

He expressed hope that future Nigerian leaders will adopt similar policies for the betterment of the country.

Other prominent Nigerians also pledged contributions to the library’s construction. The Chief Launcher and Founder of BUA Group, Abdul Samad Rabiu, donated N5 billion, while the co-Chief Launcher and Founder of the TY Danjuma Foundation, Theophilus Yakubu Danjuma, donated N3 billion.

The event also featured a book review, where former Vice President Yemi Osinbajo quoted Babangida as saying that late Moshood Abiola, who contested the 1993 presidential election, won the election.

However, Babangida described the annulment of the election as the most difficult decision of his life.