LAGOS – Nigerian industrialist Aliko Dangote has pledged to build a N550 million hostel for students of the Federal University of Technology, Owerri, in Imo State.
Dangote, who leads Dangote Industries Limited, also donated N25 million to the students through the Student Union Government.
He made the pledge during a visit to the university, where he delivered a public lecture on enterprise, leadership and service to humanity. The planned hostel will help ease the shortage of student accommodation at FUTO. Many Nigerian universities continue to face pressure as student numbers grow and housing facilities remain limited.
During his lecture, Dangote shared his business journey. He said he started as a trader in bagged cement and other goods before moving into large-scale manufacturing.
He told the students that his early success in trade did not stop him from thinking bigger. Instead, he chose to produce the goods he once imported locally.
Dangote said countries weaken their economies when they rely too much on imported finished products. He argued that imports often create jobs and wealth in the countries that manufacture the goods. According to him, manufacturing allows countries to add value to raw materials before export. It also helps build skills, create jobs and support long-term economic growth.
Dangote urged Nigerian investors to look inward. He said citizens must take the lead in building the country’s industrial base. He added that foreign investors will only show greater confidence when local investors also commit to Nigeria and Africa.
He pointed to Asia as an example. He said many Asian economies grew because their own citizens invested in local industries first.
Dangote said Asian countries did not wait for foreign investors to build their economies. Instead, they created strong production systems and supported local enterprise. He also encouraged Nigerian students to believe in their abilities. He said young Nigerians have the creativity, talent and technical skill to compete anywhere in the world.
He cited young engineering graduates trained by Dangote Refinery and Dangote Fertiliser. According to him, companies in the Gulf region later recruited some of them as expatriate professionals.
Dangote said this showed the strength of Nigerian talent when young people receive the right training and exposure. His message focused on enterprise, self-belief and national development. He urged students to see themselves as part of Nigeria’s industrial future.
The hostel pledge and cash donation will offer direct support to FUTO students. They also highlight the role of private sector leaders in strengthening public education.
“Nigeria must move from import dependence to production. It must also build industries that create jobs, retain value and give young people a stronger future. The country needs to focus more on local production if it wants stronger industries, more jobs and wider prosperity.” Dangote said.
