By Ayomide Otitoju
President of Dangote Industries Limited, Aliko Dangote, has pledged to construct a ₦550 million student hostel at the Federal University of Technology Owerri (FUTO) to help address accommodation challenges at the institution.
Dangote also donated ₦25 million to students through the university’s Student Union Government during a visit to the campus, where he delivered a public lecture on enterprise, leadership, and service to humanity.
Speaking at the event, the industrialist recounted his entrepreneurial journey, noting that he began as a trader distributing bagged cement and other commodities before transitioning into large-scale manufacturing through a backward integration strategy.
He emphasised the importance of local production, arguing that excessive importation of finished goods undermines economic growth by exporting jobs and wealth, while domestic manufacturing creates employment and drives development.
Dangote urged Nigerians to prioritise investment in local industries, stressing that sustainable industrialisation must be driven by domestic investors rather than reliance on foreign capital. Drawing comparisons with Asian economies, he noted that their growth was largely powered by local investment.
Addressing students, he highlighted the potential of Nigeria’s youthful population, describing them as innovative and globally competitive. He added that many engineering graduates trained by his refinery and fertiliser companies have attracted international demand, particularly from firms in the Gulf region.
Dangote encouraged students to embrace innovation, acquire technical skills, and remain adaptable, noting that entrepreneurship remains a critical tool for job creation, economic diversification, and long-term national development.
