The 2018 business lecture was also organized by the University Of Ibadan School Of Business (UISB) at the Hugh Trenchard Hall, University of Ibadan by Alhaji Aliko Dangote, Founder of Dangote group which is the largest conglomerate in West Africa, ably represented by the group’s Executive Director, Engineer Hamid Monsur who delivered the 3rd Eminent Business Lecture of the University of Ibadan School of Business on 25 July, 2018.
The first lecture was delivered in 2016 by Chief Olusegun Obasanjo, former President of Nigeria who spoke on the theme “Agricbusiness: Time to act is now” and the second business lecture was themed “Maximizing the Potentials of the Telecommunication Industry for Reversing the recession of Economic Growth in Nigeria” which was delivered in 2017 by Barrister Abdulraheem Adebayo Shittu, Minister of Communications.
The lecture focused on “A Case for Backward Integration” whereby back integration allows capitalists to access an increasing number of production input and distribution of resources. He said further that backward integration provides new skills constitutionalization.
Introducing the functionality of the group, Engineer Monsur said it has its presence in 17% African Countries and is a market leader in African countries and in cement production in the continent.
He said Dangote is one of the group’s subsidiaries in the largest listed company in West Africa and first Nigerian company to join forbes Global 2000 companies’ list. The four subsidiaries of the group are Dangote cement, Dangote Sugar, Dangote flour, Nasco Allies Industries which account for 35% of the capitalization of the Nigerian stock exchange.
Meanwhile, the objective of the lecture is directed towards the application of business principles and practices in the management of the national economy.
The Governor of Oyo state, Senator Isiaka Abiola Ajimobi, represented by the commissioner for education, Professor J.A Olowofela commended the effort of the management for organizing the lecture. He admonished every to listen to the greatest African industrialist, Aliko Dangote.
He said “today has given us a template on industrialization. In fact, the World Bank director told me sometimes ago that he has studied the template of Dangote. First and foremost, discover the market then takes over the market and that is exactly what has been done today.”
He commented further that “for a lecture like this, I want to appeal to the University management that next time, this auditorium most be filled to the capacity, because what we are witnessing today among the youths is something that is very serious in which they fill that they can get money without working, in which these people believe in magic.
The best way to make money is through business and when you listen to business entrepreneurs, you listen to people who have made success of failing forward, as there is no enterprises that can stand that will not have to fail one time or the other, but by consistency, you will be able to move forward. So, I want to appeal that next time, when we are having this kind of lecture, we must mobilize youths because we need to change the paradigm in Nigeria.”
“I will use this opportunity to thank the University of Ibadan under the leadership of the current vice chancellor for their effort in supporting the governing policy of the school governing board.
The school governing board is hearkening to the reintegration in which every member of the society if participating in education today. University of Ibadan is the stakeholder of the Abadina College and today, a lot of development is ongoing there due to the effort of the University management.”
“This is a conglomerate which is all over Africa but has been able to employ 15,000 directly, several millions indirectly, that is obviously less than 0.008% in terms of workforce. That means that we still need to do a lot to engage Nigerians either in business or any other enterprise.
So I want to plead to the young ones that are coming that your own generation is the generation of job creators and not job seekers, and that is why the courses on entrepreneurship on the syllabus of the NUC is out in times like this.”
By: Adedokun Seyi