‘Nigeria’s Largest Private Sector Employer’ – Otedola Drums Support For Dangote

Billionaire businessman and chairman of Geregu Power PLC and FBN Holdings, Femi Otedola, has expressed strong backing for Aliko Dangote, chairman of Dangote Industries Limited, and his ambitious refinery project.

Naija News reports that a recent clash between Africa’s wealthiest man and Nigeria’s oil industry regulators has sparked widespread discussion.

Amid the ongoing conflict, Dangote made an offer to sell his refinery to the Nigerian National Petroleum Company (NNPC) Limited on July 22.

Responding on July 23, Otedola took to his verified X account to stress the significant impact Dangote has as the largest private sector employer in Nigeria and a leading taxpayer.

Otedola wrote, “My brother, the visionary, has constructed the world’s largest single-train refinery, located not in Kano but Lagos State.

“He owns the world’s second-largest sugar refinery in Lagos and the largest cement factory globally, situated in Kogi State. Additionally, he’s built one of the world’s largest fertilizer plants, poised to surpass the largest in Qatar, also in Lagos. Aliko Dangote is a giant crafted by God for humanity.”

Otedola continued, “Dangote is Nigeria’s largest private sector employer, and his companies contribute immensely to the national tax revenue. If not for him, cement would still be an import. His influence extends beyond industries to vital infrastructure, including roads like the Apapa Oshodi-Oworonshoki Express Road, Wharf Road, and Obajana-Kabba Road.”

He drew parallels with historical American industrial titans such as Cornelius Vanderbilt, John D. Rockefeller, Andrew Carnegie, J.P. Morgan, and Henry Ford, adding that “These men shaped America’s industrial prowess, supported by their government, leaving legacies that continue to sustain the nation.”

Otedola noted that modern tech giants like Microsoft and Tesla have received considerable U.S. government support. “For example, in January 2010, Tesla Motors received a $465 million loan from the Department of Energy to develop electric vehicles and manufacturing facilities,” he said.

Otedola highlighted similar support in countries like India, where business leaders such as Gautam Adani and Mukesh Ambani have received substantial governmental backing, driving economic growth, stressing that “Vietnam, South Africa, Brazil, and China are other examples where local businesses have been empowered to spearhead industrialization.”

He emphasized that countries like Vietnam have fostered a booming tech sector with government incentives, while South Africa’s support for mining has maintained its global edge. Otedola said Brazil’s investment in agriculture has turned it into a leading food exporter, and China has propelled companies like Huawei and Alibaba to global prominence.

“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,” Otedola stated.