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Dangote donates N8bn towards IBB Presidential Library, Rabiu, Danjuma, others
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By Kayode Sanni-Arewa
The President and Chief Executive of Dangote Industries Limited, Aliko Dangote, has praised former Head of State, Gen. Ibrahim Badamasi Babangida, popularly known as IBB, for implementing policies that liberated the private sector in Nigeria during his regime.
Dangote made this statement on Thursday during the unveiling of the book “A Journey in Service”, the autobiography of the former Head of State. The event also served as a fundraiser for the IBB Presidential Library.
Africa’s wealthiest man donated N8 billion to the IBB Presidential Library, to be paid at N2 billion annually over the four years allocated for the project’s completion.
He further pledged that if the project extends beyond this timeframe, he would continue to donate N2 billion annually until it is finished.
Dangote, who is the largest employer of labour after the government, commended Babangida for his transformative policies that encouraged Nigerian investors to play prominent roles in the economy. He particularly 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.
This shift, he said, led to a contribution of 85% of the country’s GDP from the private sector, while the government contributes just 15%.
“Your Excellency, 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. Anyone in the private sector who has achieved prominence today owes it to you, as you provided us with the necessary licences. In the past, we used to struggle to obtain licences through intermediaries, including Indians,” he said.
Dangote recalled how Babangida’s policies facilitated the growth of Nigerian businesses, enabling them to thrive.
“Your Excellency, in 1986, you abolished the requirements for import licences, and it was because of that decision that we were able to reach the highest levels of growth. I recall a day when you granted almost 30 of us banking licences. You also instructed five Nigerians to pay N1 million each for oil blocs.
“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,” he added while expressing hope that future Nigerian leaders will adopt similar policies for the betterment of the country.
“I want to thank you once again, and I am confident that future leaders will continue to follow your example, working closely with the private sector.”
On his contribution to the IBB Presidential Library project, Dangote said, “Your Excellency, based on what I have observed, I believe this project will require at least four years to complete. I would like to contribute N2 billion each year for the next four years, amounting to N8 billion in total. Should the project extend beyond four years, I will continue to contribute N2 billion annually.”
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.
Former President Olusegun Obasanjo, who chaired the event, remarked that by writing his memoir, Babangida had not only contributed to making history but also to documenting it.
However, he cautioned the former military Head of State to expect varied reactions to the book, including good, bad, and ugly ones.
Former President Goodluck Jonathan also praised Babangida for the launch of his memoir and stated that Nigeria’s history would be incomplete without the story of the former Head of State.
During the book’s review, former Vice President Yemi Osinbajo quoted Babangida as saying that late Moshood Abiola, who contested the 1993 presidential election on the platform of the Social Democratic Party, won the election.
However, Babangida described the annulment of the election as the most difficult decision of his life.
“There was no doubt in my mind; MKO Abiola won the election. He satisfied all the requirements,” Babangida was quoted to have said
The former military leader noted that while the annulment of the election remained a defining moment in his career, he took solace in the fact that former President Muhammadu Buhari posthumously honoured Abiola with the Grand Commander of the Federal Republic title, a recognition reserved for Nigerian presidents
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Dangote Refinery raises fuel price by N15
Dangote Petroleum Refinery and Petrochemicals FZE has raised the gantry price of Premium Motor Spirit (petrol) from N1,185 to N1,200 per litre, effective August 26, 2026.
In a notice sent to customers on Tuesday, the refinery’s Group Commercial Operations announced new depot prices for gantry and coastal deliveries.
The email, titled ‘PMS Price Change Communication (N1,185 per Litre To N1,200 Per Litre)’, instructed customers to note the revised DPRP PMS gantry and coastal prices, starting August 26, 2026.
As per the notice’s table, the coastal price increased from N1,562,265 to N1,582,380 per metric tonne, while the gantry price rose from N1,185 to N1,200 per litre.
The refinery also asked customers to return all Authorisation to Collect documents for repricing, stating a new volume contract would be issued to resume immediate loading.
“You are advised to return all ATCs for repricing, and a new volume contract will be issued for immediate loading resumption. Should you require any further clarification, please do not hesitate to contact us,” the notice said.
The latest adjustment represents a N15 per litre increase in the gantry price and comes barely days after the refinery raised the price from N1,165 to N1,185 per litre.
The previous price increase was implemented at midnight on August 21, 2026, as reported by industry trackers.
However, the most recent hike occurs amid declining international crude oil prices.
Oilprice.com data from Tuesday indicated that West Texas Intermediate crude was trading at $82.13 per barrel, a decrease of $2.88 or 3.39%. Brent crude was priced at $88.37 per barrel, down $3.80 or 4.12%. Murban crude also dropped to $92.71 per barrel, a decline of $8.73 or 8.61%.
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Benin-Sapele Road: Umahi Apologises, Orders Arrest of Contractors Over Asphalt Removal
The Minister of Works, Senator David Umahi, has apologised to commuters, residents and businesses in Edo and Delta states over the deplorable condition of the Benin-Sapele Road, which has subjected motorists and other road users to severe hardship.
Umahi also ordered the immediate arrest of any contractor or concessionaire found removing asphalt from existing federal roads without proper authorisation, describing the practice as a destruction of public infrastructure.
The minister gave the directive on Tuesday during an inspection of major federal roads in Edo State, where he expressed deep disappointment over the condition of the Benin-Sapele and Benin-Agbor-Asaba corridors.
He said the Federal Government was concerned about the hardship being experienced by commuters and was determined to take urgent measures to restore the affected roads and ease traffic difficulties.
Umahi specifically apologised to the people of Edo and Delta states, as well as other Nigerians who use the highway.
He said: “I am very, very disappointed with this concessionaire. I offer apologies. I take full responsibility for the misdeed and for the destruction of public assets.”
The minister accused the concessionaire handling the project of lacking the technical competence, personnel and appropriate methodology required to execute the road rehabilitation effectively.
According to him, the road was in a better condition before it was handed over to the concessionaire.
Umahi disclosed that he had personally witnessed the removal of asphalt from the road during an earlier inspection conducted with the Edo State Governor, Monday Okpebholo, and had directed the contractor to stop the practice.
He said the Ministry of Works had repeatedly warned against the unauthorised removal of asphalt from federal roads, insisting that such action was contrary to government policy and amounted to the destruction of public assets.
The minister consequently directed Federal Controllers of Works across the country to ensure that any contractor or concessionaire found removing asphalt without approval was arrested.
“The Ministry of Works does not allow anybody to remove asphalt on the road. That is against the policies of the Ministry of Works,” Umahi said.
He further questioned the technical capacity and competence of the concessionaire handling the project, saying the Federal Government must ensure that companies awarded major road concessions possess the required expertise and integrity.
Umahi said the poor handling of the project had resulted in unnecessary suffering for commuters, residents and businesses along the corridor.
He, however, assured road users that the Federal Government would not allow the situation to continue indefinitely.
The minister said President Bola Tinubu was aware of the hardship caused by the condition of the road and had directed the Ministry of Works to do everything possible to restore the highway and provide relief to motorists.
He explained that although concession agreements were governed by legal and contractual provisions, the Federal Government could invoke overriding public interest where necessary to protect citizens and critical infrastructure.
Umahi also said the Federal Government would prioritise emergency intervention on the road while working towards a more permanent solution.
The minister commended youths in Edo State for remaining calm despite the prolonged hardship caused by the condition of the highway.
He said their restraint had helped prevent a possible breakdown of law and order, particularly given the frustration experienced by motorists and residents.
Umahi also praised Governor Monday Okpebholo for his intervention in the rehabilitation of federal roads across Edo State and for his commitment to infrastructure development.
Responding, Governor Okpebholo appealed to residents and youths in communities along the affected routes to remain patient and exercise restraint while the Federal Government works to address the situation.
The governor recalled the poor condition of the Benin-Ekpoma Road and said President Tinubu had responded to his appeal for the reconstruction of the road.
Okpebholo stressed the strategic importance of Edo State as a gateway linking several parts of the country, warning that prolonged disruption of movement could have wider economic and security consequences.
Concessionaire blames heavy rains
Meanwhile, the Chief Executive Officer of the concessionaire, Mr Samuel Daramola, attributed the slow pace of construction to heavy rainfall and other challenges associated with working on the busy highway.
Daramola said the company had embarked on palliative measures to keep traffic moving while construction continued.
He explained that one of the company’s initial interventions after taking over the Benin-Agbor Road was to expand sections of the highway and address the numerous potholes affecting motorists.
According to him, the company commenced palliative works because of the extent of deterioration on the road and the need to create temporary access for commuters.
The Federal Government’s latest intervention comes amid growing concerns over the condition of the Benin-Sapele-Warri corridor, a major transport route connecting communities and facilitating the movement of people and goods between Edo and Delta states.
The development has heightened calls for urgent action to prevent further economic losses and reduce the risks faced daily by motorists and commuters using the highway.
Niger Delta Herald reported that the Federal Government is also considering a review of concessioned roads across the country to ensure that concessionaires comply with contractual obligations and that road projects serve the public interest.
News
2027: Vote For President Tinubu, Other APC Candidates Or Relocate From Our Local Govt, Kuje LG Chairman Tells Residents
Chairman of Kuje Area Council, Federal Capital Territory (FCT), Mr Samuel Danjuma Shekwolo has been in the spotlight after a video surfaced on social media in which he issued a relocation directive to residents of the local government who are not ready to support and vote for APC candidates in the upcoming 2027 General Election.
Mr Shekwolo , who was seen in the video in question addressing people in a community, submitted that he will not tolerate opposition to the APC or President Bola Tinubu’s re-election bid in Kuje Area Council.
‘I have said in my area council that it’s either you are for the APC or you leave the area council. I am not mincing my words .
You know why? I cannot have the Minister and the President doing what they are doing, then on the Election Day, you will now say you want to match me. I will not agree. It’s either you are with us or you are against us’ he added.
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