Billionaire business mogul Femi Otedola has emphasised the necessity for Nigerians, particularly the government, to support Aliko Dangote, Chairman of the Dangote Group, by fostering an environment conducive to business growth.
Otedola’s remarks come amidst ongoing challenges faced by Dangote, who has been in the media spotlight due to claims that a cabal is obstructing his ability to import crude oil for his refinery operations.
In a passionate defence of his friend and business ally, Otedola took to his X account on Tuesday to highlight the significant contributions Dangote has made not only to industrial facilities but also to critical infrastructure across Nigeria.
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He described Dangote as a “titan that God created specially for mankind.”
“In Nigeria, we have our own titans, and it is imperative that we recognise and support them. Aliko Dangote has broken every boundary in global business and industry. His contributions are not just a testament to his brilliance but a beacon of what is possible when vision meets opportunity,” Otedola stated.
He further elaborated on Dangote’s achievements, noting, “My brother, the visionary, has built the largest single train refinery in the world, not in Kano, but in Lagos State.
“He owns the second-largest sugar refinery in the world and the largest cement factory globally, situated not in Kano but in Kogi State.
Additionally, he has established one of the largest fertiliser plants in the world, set to surpass the biggest one in Qatar, along with a fertiliser plant in Lagos that is already exporting globally.”
Otedola pointed out that Dangote is the largest private sector employer of labour in Nigeria and one of the country’s largest taxpayers, often contributing more in taxes than the top banks combined. He lamented that if not for Dangote’s efforts, Nigeria would still be reliant on imported cement.
Highlighting Dangote’s broader impact, Otedola noted that the business magnate has played a crucial role in developing essential infrastructure, constructing major roads such as the Apapa Oshodi-Owonrosoki Express Road, Wharf Road, and the Obajana-Kabba Road.
Drawing parallels with historical figures in American industrialisation, Otedola argued, “Countries in the nascent stages of industrialisation require visionary leaders.
It was the vision and tenacity of remarkable individuals like Cornelius Vanderbilt, John D. Rockefeller, and Henry Ford that built America’s industrial landscape.
“Their contributions were immortalised not in the material wealth they amassed but in the enduring institutions and industries they established.
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He further cited examples of government support for local business leaders in other nations, noting how the US government-backed tech giants like Tesla and how countries like India, Vietnam, and Brazil have facilitated the growth of their local champions through substantial support.
Otedola’s comments come in the wake of reports from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) indicating that the Federal Government has yet to license the Dangote refinery to commence operations. NMDPRA Chief Executive Officer Farouk Ahmed addressed concerns regarding alleged efforts to thwart the refinery’s operations, clarifying that the facility is still in the pre-commissioning stage.
In a recent interview, Dangote expressed his willingness to sell the refinery to the Nigerian National Petroleum Corporation Limited (NNPCL) to quell allegations of monopolistic practices in the industry.
“Let them (NNPCL) buy me out and run the refinery the best way they can. They have labelled me a monopolist. That’s an incorrect and unfair allegation, but it’s okay. If they buy me out, at least their so-called monopolist would be out of the way,” he stated.
As Dangote navigates these challenges, Otedola’s call for recognition and support for Nigeria’s local business titans underscores the importance of fostering a robust environment for indigenous enterprises to thrive.
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