Aliko Dangote praises former president Ibrahim Babangida for policies that empowered Nigeria’s private sector, pledging N8bn to IBB Library
Billionaire businessman **Aliko Dangote**, President and CEO of **Dangote Industries Ltd.**, has praised former **Nigerian military president Ibrahim Babangida (IBB)** for his transformative economic policies that strengthened the nation’s private sector.
Dangote made the remarks at the launch of Babangida’s autobiography, *A Journey in Service*, and the inauguration of the **IBB Presidential Library**.
During his speech, Dangote credited **IBB’s administration** with enacting policies that opened up Nigeria’s economy to local investors, particularly highlighting the **abolition of import licences** as a game-changer for domestic industries.
**“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,”** Dangote said.
He further noted that these policies helped shift Nigeria’s **Gross Domestic Product (GDP)** structure, with the **private sector now contributing 85%** while the government accounts for only **15%**.
In recognition of Babangida’s contributions, Dangote pledged **N8 billion** to the IBB Presidential Library, committing to pay **N2 billion annually** over the next four years. He also vowed to extend his contributions if the project required more time for completion.
– **Alhaji Abdul Samad Rabiu (Founder, BUA Group)** – **N5 billion**
– **Theophilus Danjuma (Founder, TY Danjuma Foundation)** – **N3 billion**
Babangida’s policies, according to Dangote, laid the groundwork for Nigeria’s thriving private sector, allowing businesses to flourish without excessive government interference.
