The Nigerian elite gathered at the Transcorp Hilton Hotel, Abuja, on Thursday, February 20, 2025, for the grand launch of the autobiography of former Military President Ibrahim Badamasi Babangida (IBB). The book, titled A Journey in Service, was unveiled in a high-profile event that also served as a fundraiser for the IBB Presidential Library Project.

Massive Contributions from Business Tycoons

While many donors opted to remain anonymous, some of Nigeria’s wealthiest individuals made public their generous pledges. Africa’s richest man, Alhaji Aliko Dangote, emerged as the top donor, committing N8 billion to be disbursed in N2 billion annual payments over four years. Dangote further assured that if the project extended beyond the planned timeframe, he would continue contributing at the same rate until completion.

Following closely, Alhaji Abdul Samad Rabiu, Chairman of BUA Group, pledged N5 billion towards the initiative. Other notable contributors included:

• Theophilus Danjuma – N3 billion (Founder, TY Danjuma Foundation)
• Chief Arthur Eze – N500 million (Business Mogul)
• Senator Sani Musa – N250 million (Senator, Niger East)
• Mustafa Chike-Obi – N100 million (Chairman, Fidelity Bank)

Recognizing Babangida’s Economic Reforms

In his speech, Dangote expressed deep appreciation for Babangida’s pivotal role in transforming Nigeria’s economic landscape. He lauded the former president’s policies, particularly the abolition of import licenses, which facilitated greater private sector involvement and reduced bureaucratic hurdles.

According to Dangote, Babangida’s economic reforms enabled Nigeria to become a thriving hub for private enterprises, with the private sector now contributing 85% of the country’s Gross Domestic Product (GDP), compared to the government’s 15%.

IBB: The Architect of Nigeria’s Private Sector Growth

Dangote credited Babangida for fostering an environment where Nigerian entrepreneurs could flourish, stating that many of today’s successful business figures owe their achievements to the foundation laid during Babangida’s administration.

“Your Excellency, I would like to express my sincere gratitude for all you have done for Nigeria. Many may not realize that you were the architect of the private sector in Nigeria,” Dangote remarked. He emphasized that before Babangida’s reforms, entrepreneurs had to navigate complex procedures and intermediaries to obtain business licenses, often depending on foreign middlemen.

A Legacy in the Making

The launch of A Journey in Service and the ambitious Presidential Library Project mark a significant milestone in Babangida’s legacy. With contributions from some of Nigeria’s most influential figures, the project is poised to become a landmark for historical preservation, leadership studies, and intellectual engagement.

The event reaffirmed Babangida’s impact on Nigeria’s economic and political landscape, highlighting his role in shaping the country’s business environment and fostering long-term growth for the private sector. As donations continue to pour in, the completion of the IBB Presidential Library stands as a testament to his enduring influence in Nigeria’s development journey.