BABANGIDA, ARCHITECT OF NIGERIA’S PRIVATE SECTOR

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Alhaji Aliko Dangote, the President and Chief Executive of Dangote Industries Ltd., on Thursday, praised former Head of State, Gen. Ibrahim Babangida, for implementing policies that liberated the private sector during his regime.

Dangote said this during the unveiling of the book, “A Journey in Service,” the autobiography of the former Head of State and the inauguration of the IBB Presidential Library.

Dangote 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,” he said.

According to him, this shift, led to a contribution of 85 per cent of the country’s Gross Domestic Product from the private sector, while the government contributes just 15 per cent.

“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,” he said.

Dangote donated N8 billion to the IBB Presidential Library, to be paid at N2 billion annually over the four years allocated for the project’s completion.

He further pledged that if the project extended beyond this timeframe, he would continue to donate N2 billion annually until it was completed.

Other prominent Nigerians also pledged contributions to the construction of the library, with Alhaji Abdul Rabiu, the Chief Launcher and Founder of BUA Group, donating N5 billion.

Theophilus Danjuma, the co-Chief Launcher and Founder of the TY Danjuma Foundation, donated N3 billion.