Billionaire enterprise mogul, Femi Otedola, has defined why Nigerians, notably the federal government ought to assist 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 vital infrastructure, have to be recognised and supported by all means.
Otedola, who rose in defence of his buddy and enterprise ally in a put up on his X account on Tuesday, described Dangote as a “titan that God created specifically for mankind”.
“In Nigeria, now we have our personal titans, and it’s crucial that we recognise and assist them. Aliko Dangote has damaged each boundary in worldwide enterprise and trade. His contributions are usually not only a testomony to his brilliance however a beacon of what’s doable 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 assist these visionaries who drive our nation’s progress,” Otedola mentioned.
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 crops 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 also be the most important personal sector employer of labor within the nation, and his firms are among the many largest taxpayers. Actually, the Dangote Group typically pays extra in taxes than the highest banks mixed. If not for him, we might nonetheless be importing cement.”
In line with him, Dangote’s contributions prolong past industrial services to vital infrastructure, having constructed main roads such because the Apapa Oshodi-Owonrosoki Specific Street, Wharf Street, and the Obajana-Kabba Street.
Otedola mentioned, “Nations within the nascent phases of industrialization require visionary leaders. That is why it’s no shock that the US was constructed by the imaginative and prescient and tenacity of some outstanding 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 belongings however left behind a legacy that has stored their nation thriving era after era. Their contributions had been immortalized not within the materials wealth they amassed however within the enduring establishments and industries they established. These visionaries had been additionally supported by their authorities, which acknowledged the significance of fostering native champions.
“Equally, right now’s tech giants like Microsoft and Tesla obtained substantial assist from the US authorities. For instance, in January 2010, the Division of Vitality 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 progressive autos. This initiative is a part of broader efforts, such because the federal EV-charging program supported by the infrastructure regulation often called 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 firms have obtained vital backing to develop and broaden, contributing considerably to India’s financial progress and world enterprise footprint.
“There are additionally information of rising market international locations 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 varied incentives to tech firms, fostering a quickly rising know-how sector. In South Africa, authorities assist for the mining trade has been essential in sustaining its world competitiveness. Brazil has seen substantial authorities funding in its agricultural sector, reworking it into one of many world’s main meals exporters. In China, authorities backing for firms like Huawei and Alibaba has propelled them to world management in know-how and e-commerce.”
Dangote has been within the information these days after claims {that a} cabal was blocking his strikes to import crude and the way it has been tough to get the merchandise, slowing down operations.
Final week, the Nigerian Midstream and Downstream Petroleum Regulatory Authority mentioned the Federal Authorities was but to license the Dangote refinery to start operations within the nation.
The NMDPRA Chief Government Officer, Farouk Ahmed, disclosed this whereas talking with journalists on the State Home on July 18, 2024.
In line with Ahmed, the claims of ongoing efforts to scuttle the operations of Dangote refinery on account 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 suggestion 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 handle allegations of monopoly within the trade.
“Allow them to (NNPCL) purchase me out and run the refinery one of the simplest ways they’ll. They’ve labelled me a monopolist. That’s an incorrect and unfair allegation, nevertheless it’s OK. In the event that they purchase me out, at the very least, their so-called monopolist could be out of the way in which.
“We now have been dealing with gasoline disaster for the reason that 70s. This refinery might help in resolving the issue nevertheless it does seem some persons 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.
