Nigerian billionaire and industrialist Aliko Dangote has shed light on his unusual relationship with former Nigerian President Olusegun Obasanjo, describing the former Head of State as "the father of Africa". Dangote praised Obasanjo for his unwavering support in ensuring the completion of one of his major investments in Nigeria, despite widespread doubts about the project's success. Obasanjo's backing was instrumental in the realization of Dangote's ambitious cement factory project in 2004.
During the groundbreaking ceremony for the planned Dangote East African Refinery in Lamu, Kenya, Dangote expressed his admiration for Obasanjo, describing him as an old man with the spirit of a 50-year-old. He revealed that Obasanjo frequently refers to him as "my boss", a description Dangote joked was not accurate. The two have a long-standing relationship, with Obasanjo playing a critical role in Dangote's business empire. Dangote's words reflect the high esteem in which he holds Obasanjo.
According to Dangote, Obasanjo earned a unique place in the history of his business empire when he served as a key overseer of one of Dangote's early large-scale industrial projects. In 2004, Dangote was building a five million tonnes cement factory, a project that faced significant scepticism from government officials. They warned Obasanjo that Dangote would not be able to deliver the ambitious factory, but Obasanjo nevertheless backed the project and ensured its completion.
Dangote recalled that Obasanjo's support was crucial in the realization of the cement factory project, which was commissioned just a few days before Obasanjo left office. The project was a significant milestone in Dangote's business career, marking one of the first large-scale industrial projects he had undertaken. Obasanjo's faith in Dangote's abilities helped to alleviate concerns about the project's viability.
The remarks came as Dangote launched plans for his latest major African investment, the Sh2 trillion Dangote East African Refinery in Lamu, Kenya. The $16 billion project is expected to have a processing capacity of approximately 700,000 barrels of crude oil per day, placing it among the largest planned refining facilities globally. Obasanjo was among the guests at the groundbreaking ceremony.
The Dangote East African Refinery is expected to process crude from Kenya's Turkana oilfields, alongside supplies from other African producers and international markets. The project is being positioned as a major investment in Kenya's energy and industrial sectors, with the potential to create thousands of jobs and attract supporting businesses around Lamu. The deep-water Lamu port was an important factor in selecting the location.
The project is poised to have a significant impact on Kenya's economy, with the potential to transform the country's energy and industrial landscape. Dangote's investment is expected to create new opportunities for economic growth and development in the region. With Obasanjo's legacy as a champion of African development, Dangote's project is likely to receive continued support from governments and investors across the continent.
Key points
- Obasanjo backed Dangote's 2004 cement factory project despite widespread scepticism.
- The Dangote East African Refinery will have a processing capacity of approximately 700,000 barrels of crude oil per day.
- The project is expected to create thousands of jobs and attract supporting businesses around Lamu.
