Otedola unveils compelling reasons for Nigerians to back Dangote’s refinery project. Learn how this support could benefit the nation.
Femi Otedola, a billionaire businessman from Nigeria has expressed his opinion regarding the current disagreement between Aliko Dangote and officials of the petroleum ministry in the federal government.
On Tuesday afternoon, in a post on X, Otedola emphasized the necessity of visionaries for developing a nation’s economy and highlighted how their legacies continue to sustain even after they exit.
In Lagos State, my brother – the Visionary – has erected the biggest train refinery globally and owns the second-largest sugar refinery across the world. Moreover, he possesses a cement factory that dominates as number one in size around Kogi State instead of Kano.
In addition, he has created the second-largest fertilizer plant globally and is on course to surpass Qatar’s largest one in Lagos State. Moreover, his company operates a fertilizer facility that exports worldwide from Lagos. “Aliko Dangote is truly a colossal figure crafted by God for humanity,” stated the author.
Aliko Dangote is not only the foremost private sector employer in Nigeria, but his enterprises also rank among the highest taxpayers. It’s noteworthy that frequently, the taxes paid by Dangote Group exceed even those of leading banks combined. The nation would still depend on foreign imports for cement if it weren’t for him and beyond erecting industrial facilities; he has constructed vital infrastructure like Apapa Oshodi-Owonrosoki Express Road, Wharf Road and Obajana-Kabba Road.
Otedola, who serves as the chairman of Geregu Power Plc, cited instances where a handful of individuals paved the way for their country’s progress and received backing from their respective administrations.
Visionary leaders are essential for countries that are just starting to industrialize. It is not surprising, then, that the United States was constructed by a handful of remarkable individuals: Cornelius Vanderbilt, John D. Rockefeller, Andrew Carnegie, J.P. Morgan and Henry Ford – collectively known as “THE MEN WHO BUILT America’s industrial landscape.” While they may have left this world without their wealth intact; what they did leave behind is a legacy which has ensured thriving generations in their country for years afterwards,”, he stated.
Their legacy was secured not by the riches they accumulated, but rather through long-standing enterprises and industries that endure to this day. These pioneers were bolstered by their government’s recognition of the importance in nurturing local champions. In a comparable vein, contemporary tech giants such as Microsoft and Tesla benefited greatly from extensive aid provided by the US administration. As an example, in January 2010, Tesla Motors received a loan worth $465 million dollars from The Department of Energy for manufacturing unique all-electric plug-in vehicles at its newly established plant located in Fremont California; along with developing battery packs & powertrain components necessary for powering these groundbreaking cars,” he noted.”
As part of larger endeavors, the National Electric Vehicle Infrastructure program (NEVI) is just one example of initiatives being taken to promote electric vehicle charging in America. In India, government support for prominent business leaders like Gautam Adani and Mukesh Ambani has resulted in substantial contributions towards economic growth and global commerce expansion. Nations such as Vietnam, South Africa, Brazil and China have similarly provided assistance to their own growing businesses by promoting industrialization within those regions.
The technology sector in Vietnam has experienced great growth with the government offering different incentives to tech companies. Likewise, South Africa’s mining industry remains competitive globally due to vital government support while Brazil ranks among leading food exporters following significant state investment in its agricultural field. Moreover, China’s backing of corporations like Huawei and Alibaba enabled them to attain leadership positions worldwide regarding e-commerce and technology.
According to Otedola, Dangote has surpassed all limits in the global business and industry arena.
It is crucial that we acknowledge and back our own powerful figures in Nigeria. This individual’s outstanding achievements exemplify what can be attained when great ideas converge with favorable circumstances – not just displaying his brilliance but representing hope for us all. Upholding warriors like Dangote from within our borders aids in propelling the growth of our nation, enabling economic autonomy as well. We must maintain steadfast encouragement towards these trailblazers who propel advancement throughout the land.”
