Aliko Dangote pledges N8 billion towards the development of the IBB Presidential Library

Billionaire businessman Aliko Dangote has pledged to donate N8 billion to the Ibrahim Badamasi Babangida Presidential Library.

Dangote pledged on Thursday during the unveiling of the book “A Journey in Service,” the autobiography of Babangida who served as Head of State from 1985 until his resignation in 1993.

The Nigerian billionaire noted that the N8 billion will be paid at a rate of N2 billion annually over the period of 4 years allocated for the project’s completion.

He further pledged that if the project extends beyond this timeframe, he will continue to donate N2 billion annually until it is finished.

Dangote said: “Your Excellency, I would like to express my sincere gratitude for all you have done for Nigeria. Many may not realize that you were the architect of the private sector in Nigeria.

Anyone in the private sector who has achieved prominence today owes it to you, as you provided us with the necessary licenses. In the past, we used to struggle to obtain licenses through intermediaries, including Indians.”

Dangote added that Babangida abolished the requirements for import licenses in 1986, and it was because of that decision that he and others were able to reach the highest level of growth.

“Your Excellency, I could continue to list all the reforms you introduced that liberated the private sector, which is why Nigeria has more private sector involvement than any other country in Africa.

It is only in Nigeria where government contribution to GDP is a mere 15%, with the remainder being driven by the private sector.”

Other prominent Nigerians also pledged contributions to the library’s construction.

The Chief Launcher and Founder of BUA Group, Abdul Samad Rabiu, donated N5 billion, while the co-chief Launcher and Founder of the TY Danjuma Foundation, Theophilus Yakubu Danjuma, donated N3 billion.