By Adesina Soyooye
Africa’s unassuming richest man, Aliko Dangote, has pledged to build and donate to the Federal University of Technology, Owerri, FUTO, a students’ Hostel worth a whopping N550m. He also donated the sum of N25m to the University’s Students Union Government, SUG.
Dangote made the heartwarming pledge and donation just as he urged stronger local production, industrial growth, and power infrastructure in Nigeria.
He spoke at FUTO when he delivered a public lecture which focus was on
leadership, and service to humanity.
The new hostel project, when completed, will help to ease the terrible accommodation shortage which the students face.
Dangote inspired the students by sharing with them his journey to where he is today. He recalled his early days as a trader in commodities, from where he, gradually, but steadily, moved into large-scale manufacturing through “backward integration.”
He explained to them how very badly Nigeria is losing by relying on importation instead of relying on local production.
Dangote: “Importing finished products into Nigeria is equivalent to importing poverty, inflation and unemployment while exporting raw materials. Importation of finished products creates jobs, prosperity, and development in the exporting countries.
“Building local capacity is key to economic growth and job creation.
He also, emphasised the need for Nigerians and Africans to lead their own industrial development instead of depending on foreign investors.
Dangote: “Asian economies are powered by Asians, not foreign investment. They are the ones who invested in their countries. They did not wait for foreigners to come and develop their economies.”
He reminded the students of their capabilities. Nigerian youths, he said, have the creativity and ability to compete globally. He revealed that skilled engineers trained in his refinery operations are now attracting international attention. Some, he proudly said, are being recruited by companies in the Gulf region.
Thousands of excited FUTO students gathered to hear insights on entrepreneurship and could not contain their joy over the ₦550 million hostel pledge.
He, also, told them that Nigeria cannot achieve true economic independence unless the country built its own technical and industrial capacity.
He said: “True economic independence is impossible without technical sovereignty. We must fabricate, design, and build what we consume. We will remain the fiercest advocates for local content, which is key.”
On electricity, Dangote, who owns the biggest private refinery in the world said: “Distinguished fellows, our task is urgent. We must build power grids. This power is important; we must build it. I keep repeating, we must build it. Together, let us engineer a Nigeria that works not just for some, but for everyone”.
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