Table of Contents
Key Points
- Aliko Dangote committed $5.3 million to the IBB Presidential Library, donating $1.33 million annually over four years.
- Business leaders, including Abdul Samad Rabiu and Theophilus Danjuma, contributed to the fundraiser, led by Dangote’s record donation.
- The IBB Presidential Library will document Nigeria’s political and military history, following the model of the Obasanjo Library.
Aliko Dangote, Africa’s richest man, has pledged N8 billion ($5.3 million) to support the construction of the IBB Presidential Library.
The announcement came during the launch of former military President Ibrahim Badamasi Babangida’s autobiography at Transcorp Hilton, Abuja, on Thursday, which also served as a fundraiser for the project.
Dangote, Rabiu lead donations at event
Dangote, the chairman of Dangote Group, committed to donating N2 billion ($1.33 million) annually over four years. Speaking at the event, he credited Babangida’s economic policies—particularly the abolition of import licenses—for shaping Nigeria’s private sector.
“If you’re successful in business today, you owe it to IBB,” he said, emphasizing how these reforms positioned Nigeria as a leader in private-sector-driven growth. He noted that the private sector now contributes 85 percent of Nigeria’s GDP, while the government accounts for just 15 percent—a shift he attributes to policies introduced during Babangida’s administration.
Dangote’s donation was the largest of the night, but several other prominent business leaders also contributed. Abdul Samad Rabiu, chairman of BUA Group and Nigeria’s third-richest man, followed with N5 billion ($3.32 million).
Top donors contribute $11.3 million
Theophilus Danjuma, co-chief launcher and founder of the TY Danjuma Foundation, donated N3 billion ($2 million), while business mogul Arthur Eze contributed N500 million ($333,000). Senator Sani Musa (Niger East) also pledged N250 million ($166,000).
Fidelity Bank chairman Mustafa Chike-Obi donated N100 million ($66,400), adding to a total contribution of N17 billion ($11.3 million). Nigeria’s richest woman, Folorunso Alakija, was among the donors, though she did not disclose the amount.
Babangida Library to preserve Nigeria’s history
The IBB Presidential Library is designed to preserve Nigeria’s political, military, and cultural history. Once completed, it will be the country’s second presidential library, following the Olusegun Obasanjo Presidential Library in Abeokuta.
Modeled after similar institutions around the world, the library will offer a detailed record of leadership and governance during Ibrahim Babangida’s eight years in power.
