The President and Chief Executive of Dangote Industries Limited, Aliko Dangote, has pledged N8 billion to support the construction of the Ibrahim Badamasi Babangida Presidential Library.

Dangote announced the donation on Thursday during the unveiling of A Journey in Service, the autobiography of Babangida, who served as Nigeria’s Head of State from 1985 to 1993.

The billionaire businessman stated that the N8 billion would be disbursed in installments of N2 billion annually over four years. He also assured that if the project extends beyond this period, he would continue donating N2 billion per year until its completion.

Expressing his gratitude to Babangida, Dangote credited him with pioneering policies that strengthened Nigeria’s private sector.

“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. Anyone in the private sector who has achieved prominence today owes it to you, as you provided us with the necessary licences. In the past, we used to struggle to obtain licences through intermediaries, including Indians.

“In 1986, you abolished the requirements for import licences, and it was because of that decision that we were able to reach the highest levels of growth. I recall a day when you granted almost 30 of us banking licences. You also instructed five Nigerians to pay N1 million each for oil blocs.

“I want to thank you once again, and I am confident that future leaders will continue to follow your example, working closely with the private sector,” he said.

Other notable figures also contributed to the library project. The Chief Launcher and Founder of BUA Group, Abdul Samad Rabiu, donated N5 billion, while the co-Chief Launcher and Founder of the TY Danjuma Foundation, Theophilus Yakubu Danjuma, contributed N3 billion.

Businesswoman Folorunsho Alakija and several others also made donations, though they did not disclose the amounts publicly.