Billionaire enterprise mogul, Femi Otedola, has defined why Nigerians, significantly the federal government ought to help the Chairman of Dangote Group, Aliko Dangote, by creating an enabling surroundings to make sure companies thrive.
He argued that Dangote’s contributions which prolong past industrial services to essential infrastructure, have to be recognised and supported by all means.
Otedola, who rose in defence of his pal and enterprise ally in a submit on his X account on Tuesday, described Dangote as a “titan that God created specifically for mankind”.
“In Nigeria, we now have our personal titans, and it’s crucial that we recognise and help them. Aliko Dangote has damaged each boundary in worldwide enterprise and business. His contributions are usually not only a testomony to his brilliance however a beacon of what’s attainable when imaginative and prescient meets alternative.
“Supporting native champions like Dangote is essential for our nationwide improvement and financial independence. Allow us to proceed to foster and help these visionaries who drive our nation’s progress,” Otedola stated.
He added, “My brother, the visionary, has constructed the most important single practice refinery on the planet, not in Kano, however in Lagos State. He’s the proprietor of the second-largest sugar refinery on the planet, additionally in Lagos State, and the most important cement manufacturing facility on the planet, not in Kano, however in Kogi State. Moreover, he has established one of many second-largest fertilizer vegetation on the planet, quickly to surpass the largest one in Qatar, additionally in Lagos State. Moreover, he has constructed a fertilizer plant in Lagos that already exports globally. Aliko Dangote is a titan that God created specifically for mankind.
“Aliko Dangote can be the most important personal sector employer of labor within the nation, and his corporations are among the many largest taxpayers. In truth, the Dangote Group usually pays extra in taxes than the highest banks mixed. If not for him, we might nonetheless be importing cement.”
In accordance with him, Dangote’s contributions prolong past industrial services to essential infrastructure, having constructed main roads such because the Apapa Oshodi-Owonrosoki Categorical Highway, Wharf Highway, and the Obajana-Kabba Highway.
Otedola stated, “International locations within the nascent levels of industrialization require visionary leaders. For this reason it’s no shock that america was constructed by the imaginative and prescient and tenacity of some exceptional people—Cornelius Vanderbilt, John D. Rockefeller, Andrew Carnegie, J.P. Morgan, and Henry Ford—The lads who constructed America’s industrial panorama. These males left the world with out these property however left behind a legacy that has stored their nation thriving technology after technology. Their contributions have been immortalized not within the materials wealth they amassed however within the enduring establishments and industries they established. These visionaries have been additionally supported by their authorities, which acknowledged the significance of fostering native champions.
“Equally, at the moment’s tech giants like Microsoft and Tesla obtained substantial help from the US authorities. For instance, in January 2010, the Division of Power issued a $465 million mortgage to Tesla Motors to provide specifically designed, all-electric plug-in autos and to develop a producing facility in Fremont, California to provide battery packs, electrical motors, and different powertrain elements for powering these revolutionary autos. This initiative is a part of broader efforts, such because the federal EV-charging program supported by the infrastructure legislation referred to as the Nationwide Electrical Car Infrastructure program, or NEVI.
“In India, the federal government has been instrumental in supporting enterprise titans like Gautam Adani and Mukesh Ambani. Their corporations have obtained vital backing to develop and develop, contributing considerably to India’s financial development and world enterprise footprint.
“There are additionally data of rising market nations like Vietnam, South Africa, Brazil, and China the place their governments have supported native companies to jump-start industrialization. In Vietnam, the federal government has supplied numerous incentives to tech corporations, fostering a quickly rising expertise sector. In South Africa, authorities help for the mining business has been essential in sustaining its world competitiveness. Brazil has seen substantial authorities funding in its agricultural sector, remodeling it into one of many world’s main meals exporters. In China, authorities backing for corporations like Huawei and Alibaba has propelled them to world management in expertise and e-commerce.”
Dangote has been within the information currently after claims {that a} cabal was blocking his strikes to import crude and the way it has been troublesome to get the merchandise, slowing down operations.
Final week, the Nigerian Midstream and Downstream Petroleum Regulatory Authority stated the Federal Authorities was but to license the Dangote refinery to start operations within the nation.
The NMDPRA Chief Govt Officer, Farouk Ahmed, disclosed this whereas talking with journalists on the State Home on July 18, 2024.
In accordance with Ahmed, the claims of ongoing efforts to scuttle the operations of Dangote refinery as a consequence of lack of provide of crude oil by Worldwide Oil Firms weren’t true, including that the refinery was nonetheless on the pre-commissioning stage and has not been licensed but.
Ahmed added that the diesel product of Dangote was under worldwide customary, a declare which the businessman had refuted.
Additionally, Dangote has made a proposal to promote the refinery to the NNPCL. Talking in an unique interview with Premium Instances on Sunday, the businessman expressed his willingness to promote the refinery to deal with allegations of monopoly within the business.
“Allow them to (NNPCL) purchase me out and run the refinery the easiest way they will. They’ve labelled me a monopolist. That’s an incorrect and unfair allegation, however it’s OK. In the event that they purchase me out, at the very least, their so-called monopolist can be out of the way in which.
“We now have been dealing with gas disaster for the reason that 70s. This refinery will help in resolving the issue however it does seem some individuals are uncomfortable that I’m within the image. So I’m able to let go, let the NNPC purchase me out, run the refinery,” Premium Instances quoted him as saying.