IBB garners N16.7b for Presidential Library, other donors didn’t publicly disclose their contribution
By Jeph Ajobaju, Chief Copy Editor
Africa’s richest man Aliko Dangote on Thursday made the largest donation of N8 billion to the Presidential Library project of former military President Ibrahim Babangida, praising his reforms while in power which he said lifted the private sector from the doldrums and propelled it to the pinnacle of Nigeria’s economy.
A total N16.7 billion was rallied when the project was announced in Abuja at the presentation of A Journey in Service the autobiography of Babangida, popularly called IBB (coined from his three names, Ibrahim Babamasi Babangida) in his heyday.
Nigeria’s crème-de-la-crème assembled at the event held at Transcorp Hilton Hotel, Abuja, led by President Bola Tinubu who was special guest of honour.
Some did not make public the amount of their donation to the IBB Presidential Library Project, but Dangote stood out with N8 billion, which he explained will be paid at N2 billion annually over the four years estimated for the project’s completion.
He pledged that if the project extends beyond this timeframe he would continue to donate N2 billion annually until it is completed, according to Daily Trust.
Others who made their donations public included:
- Abdul Rabiu – N5 billion
- Theophilus Danjuma – N3 billion
- Arthur Eze – N500 million
- Sani Musa – N250 million
Rabiu, BUA Group founder, was the chief launcher of the project. Danjuma, former Defence Minister now TY Danjuma founder, was co-chief launcher.
Eze is a businessman, Musa is the Senator representing Niger East, and Chike-Obi is an official of Fidelity Bank.
Dangote praised IBB “for implementing policies that liberated the private sector during his regime.”
He highlighted the abolition of import licences which helped stimulate domestic industries.
“These reforms, among others, ensured that Nigeria now has more private-sector involvement than any other country in Africa,” Dangote said.
In his view, this shift led to 85 per cent contribution to Gross Domestic Product (GDP) from the private sector, while the government contributes just 15 per cent.
“Your Excellency,” Dangoted told Babangida, “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.”
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