Dangote Donates N8bn to IBB Presidential Library

The retired military general launched an autobiography in Abuja on Thursday, with President Bola Tinubu, and former President Goodluck Ebele Jonathan and other past presidents in attendance.

At the event, Mr Dangote described Mr Babangida, who annulled the popular June 12, 1993, presidential election won by late MKO Abiola, as the architect of private sector in Nigeria.

He promised to give N8 billion, to be paid N2 billion annually, for the IBB Presidential Library, noting that if the project extends beyond the four-year completion timeframe, he will continue to donate N2 billion annually until it is finished..

The richest man in Africa commended Mr 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 per cent of the country’s GDP from the private sector, while the government contributes just 15 per cent.

“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 at the unveiling of the book titled A Journey in Service.

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

“In 1986, you abolished the requirements for import licences, and it was because of that decision that we were able to reach the highest levels of growth. I recall a day when you granted almost 30 of us banking licences. You also instructed five Nigerians to pay N1 million each for oil blocs,” he stated.

On his contribution to the IBB Presidential Library project, Mr Dangote said, “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.”