Table of Contents
Key Points:
- Nigerian billionaire Femi Otedola supports Aliko Dangote amidst disputes with Nigeria’s oil regulators.
- Dangote offers his oil refinery for sale to the Nigerian National Petroleum Company (NNPC).
- The conflict highlights the solidarity among Africa’s top business leaders.
Nigerian billionaire and chairman of Geregu Power PLC and FBN Holdings, Femi Otedola, has expressed strong support for his friend Aliko Dangote, chairman of Dangote Industries Limited. This comes amid ongoing disputes with Nigeria’s oil regulators, prompting Dangote to offer his oil refinery for sale to the Nigerian National Petroleum Company (NNPC) on July 22.
Praises Dangote for pioneering ventures and reveals the importance of supporting local business titans
On Tuesday, July 23, Otedola took to his verified X handle (formerly Twitter) to commend Dangote’s immense contributions to Nigeria’s economy. He lauded Dangote as the largest private sector employer in the country and one of the foremost taxpayers, emphasising the monumental impact of his enterprises on the nation’s industrial landscape.
Otedola, celebrated as “the strongman of the money and capital markets” for acquiring the largest shareholding in FBN Holdings Ltd, underscored the need for visionary leaders to build a nation’s economy and leave a lasting legacy. He praised Dangote for his pioneering ventures, including the world’s largest single-train refinery in Lagos, the second-largest sugar refinery, and the largest cement factory globally.
“My brother, the Visionary, has built the largest single train refinery in the world, not in Kano, but in Lagos State. He is the owner of the second-largest sugar refinery in the world, also in Lagos State, and the largest cement factory in the world, not in Kano, but in Kogi State. Additionally, he has established one of the second-largest fertiliser plants in the world, soon to surpass the biggest one in Qatar, also in Lagos State. Furthermore, he has built a fertiliser plant in Lagos that already exports globally. Aliko Dangote is a titan that God created specially for mankind,” Otedola wrote.
Highlighting Dangote’s contributions beyond industrial facilities to infrastructure, Otedola noted the construction of major roads like the Apapa Oshodi-Oworonshoki Express Road and the Obajana-Kabba Road. Drawing parallels with America’s industrial pioneers such as Vanderbilt, Rockefeller, Carnegie, Morgan, and Ford, Otedola emphasised the importance of visionary leaders in national development.
He further highlighted the support that governments have provided to local champions worldwide, citing examples from the US, India, Vietnam, South Africa, Brazil, and China. Otedola called for similar recognition and support for Nigerian business titans to ensure sustainable economic growth and independence.
“In Nigeria, we have our own titans, and it is imperative that we recognize and support them. Aliko Dangote has broken every boundary in worldwide business and industry. His contributions are not just a testament to his brilliance but a beacon of what is possible when vision meets opportunity. Supporting local champions like Dangote is crucial for our national development and economic independence. Let us continue to foster and support these visionaries who drive our nation’s progress,” he wrote.
Femi Otedola’s commendation of Aliko Dangote shows the role of visionary leaders in national development and showcases the importance of supporting these individuals to ensure sustainable economic growth and independence.
