Aliko Dangote, President and Chief Executive of Nigeria's Dangote Group speaks during the final session of the World Economic Forum on Africa meeting in Cape Town June 6, 2008. REUTERS/Mike Hutchings (SOUTH AFRICA)

By: HALEEM OLATUNJI

 

As part of the expected surprises which marks the Foundation Day in the University of Ibadan, the President of Dangote Group, Alhaji Aliko Dangote, on behalf of the group, donated a sum of N250,000,000 to the development of the University of Ibadan School of Business, which would be the first of its kind in Africa, upon its completion.

The donation, he said was a token which was made to develop and complete some capital projects which are ongoing in the University of Ibadan in a bid to ensure that full graduates are produced to the labour market.

The donation was during the 68th Convocation of the University of Ibadan, which conferred Honorary Degree of Doctor of Science (D. Sc) on 3 outstanding personalities, Alhaji Aliko Dangote, Professor Niyi Osundare and Chief Jacob Olabode Amao.

According to Alhaji Aliko Dangote, the award conferred on them “will further encourage us to redouble our efforts as we work towards promoting Africa’s economic renaissance. We are grateful to University of Ibadan for recognising our modest efforts to transform Africa.”

He added that the Dangote group will be investing a huge amount of money in the next few years in a bid to provide for employment opportunities, foreign exchange earnings and to diversify the economy.

In his words, “Over the next three years, we, at the Dangote Group, will be investing nearly $20billion in projects ranging from a petroleum refinery, petrochemicals, fertiliser, gas pipeline, to backward integration in sugar and rice production and dairy farming. These projects will create over 250,000 jobs; provide foreign exchange earnings and savings of $16billion for the country, thus helping to diversify our economy.”

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