ABUJA, Nigeria — The political and business elite of Nigeria converged at the Transcorp Hilton Hotel on Thursday for the launch of A Journey in Service, the autobiography of former Military President Ibrahim Badamasi Babangida (IBB).
The event also served as a fundraiser for the IBB Presidential Library Project, drawing significant financial commitments from some of the country’s wealthiest individuals.
President Bola Ahmed Tinubu was the Special Guest of Honour at the gathering, which saw prominent figures from politics, business, and the military paying tribute to Babangida’s legacy.
Billions Pledged for Library Project
While several donors opted to remain anonymous, Africa’s richest man, Aliko Dangote, made a substantial pledge of N8 billion to the library project.
The donation will be disbursed in N2 billion annual instalments over four years, with Dangote promising to extend his support if the project extends beyond the initial timeline.
Alhaji Abdul Samad Rabiu, the Founder of BUA Group and the event’s Chief Launcher, contributed N5 billion, while retired General Theophilus Danjuma, Co-Chief Launcher and Founder of the TY Danjuma Foundation, pledged N3 billion.
Other major donors included business magnate Chief Arthur Eze, who gave N500 million, and Senator Sani Musa (Niger East), who contributed N250 million.
Mustafa Chike-Obi of Fidelity Bank donated N100 million, among others.
Babangida’s Economic Reforms Praised
Speaking at the event, Dangote commended Babangida for economic policies implemented during his military administration, particularly those that liberalised the private sector.
He credited the former leader with abolishing the restrictive import licence regime, which, he argued, opened up opportunities for Nigerian businesses.
“These reforms, among others, ensured that Nigeria now has more private-sector involvement than any other country in Africa,” Dangote said.
He noted that the private sector now accounts for 85 per cent of Nigeria’s Gross Domestic Product (GDP), with government activities making up the remaining 15 per cent.
He went further to attribute much of Nigeria’s business success to Babangida’s policies.
“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,” he said.
“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.”
Legacy and Reflection
Babangida, now 83, remains one of Nigeria’s most influential former leaders, often credited with shaping the country’s economic trajectory despite controversies surrounding his tenure.
The library project aims to document and preserve his legacy while serving as a resource centre for future generations.
As donations continue to flow in, the project is expected to become a landmark institution, much like similar presidential libraries around the world.
