We must support local champions like dangote – Femi Otedola defends his ‘brother’

Femi Otedola, billionaire businessman and chairman of Geregu Power PLC and FBN Holdings, has come out in strong support of Aliko Dangote, the chairman of Dangote Industries Limited, amid a heated dispute between Dangote and Nigeria’s oil sector regulators.

In a tweet, Otedola acknowledged Dangote’s impressive business acumen, highlighting his achievements in the energy and industrial sectors. He noted that Dangote’s companies are among the largest employers of labor in Nigeria and significant taxpayers.

“My brother, the Visionary, has built the largest single train refinery in the world, not in Kano, but in Lagos State. He is the owner of the second-largest sugar refinery in the world, also in Lagos State, and the largest cement factory in the world, not in Kano, but in Kogi State. Additionally, he has established one of the second-largest fertilizer plants in the world, soon to surpass the biggest one in Qatar, also in Lagos State. Furthermore, he has built a fertilizer plant in Lagos that already exports globally. Aliko Dangote is a titan that God created specially for mankind. Aliko Dangote is also the largest private sector employer of labor in the country, and his companies are among the largest taxpayers. In fact, the Dangote Group often pays more in taxes than the top banks combined. If not for him, we would still be importing cement. His contributions extend beyond industrial facilities to critical infrastructure, having built major roads such as the Apapa Oshodi-Owonrosoki Express Road, Wharf Road, and the Obajana-Kabba Road” he said.

Otedola praised Dangote’s vision and tenacity, citing his role in building a massive oil refinery in Lagos State, as well as the second-largest sugar refinery, largest cement factory, and one of the largest fertilizer plants in the world. He also mentioned Dangote’s contributions to critical infrastructure development, including major roads such as the Apapa-Oshodi-Owonrosoki Express Road, Wharf Road, and Obajana-Kabba Road.

The business mogul drew parallels with successful industrialists from other countries who received government support to achieve their goals. He cited examples from the United States, India, Brazil, and China, where governments recognized the importance of fostering local champions and provided backing to enable them to grow and expand.

Femi Otedola compares Dangote to Visionaries

The billionaire businessman added “Countries in the nascent stages of industrialization require visionary leaders. This is why it’s no surprise that the United States was built by the vision and tenacity of a few remarkable individuals—Cornelius Vanderbilt, John D. Rockefeller, Andrew Carnegie, J.P. Morgan, and Henry Ford—THE MEN WHO BUILT America’s industrial landscape. These men left the world without these assets but left behind a legacy that has kept their country thriving generation after generation. Their contributions were immortalized not in the material wealth they amassed but in the enduring institutions and industries they established. These visionaries were also supported by their government, which recognized the importance of fostering local champions.”

Otedola emphasized that supporting local business leaders like Dangote is crucial for Nigeria’s national development and economic independence. He urged Nigerians to recognize and support such visionaries who drive the country’s progress.

“In Nigeria, we have our own titans, and it is imperative that we recognize and support them. Aliko Dangote has broken every boundary in worldwide business and industry. His contributions are not just a testament to his brilliance but a beacon of what is possible when vision meets opportunity. Supporting local champions like Dangote is crucial for our national development and economic independence. Let us continue to foster and support these visionaries who drive our nation’s progress… F.Ote💲” The billionaire businessman concluded.

The tweet has sparked a wave of reactions on social media, with many commending Otedola for his words of encouragement for Dangote. The dispute between Dangote and the oil sector regulators remains ongoing, but Otedola’s statement has sent a strong message about the importance of supporting local business leaders who are driving growth and development in Nigeria.