Former President Olusegun Obasanjo said on Saturday in Lagos that Mrs Folorunsho Alakija, Africa’s richest woman by Forbes reckoning, was among the 25 billionaires he made during his tenure as President. Obasanjo stated this at the 2016 Tony Elumelu Foundation Entrepreneurship Forum.The former president was reacting to an allegation by Alakija at the event, that the Obasanjo administration frustrated her effort when she ventured into oil business.Alakija, who spoke before Obasanjo, alleged that his administration illegally took an oil block allocated to her company after her family had invested all its savings to strike oil in commercial quantity.



“This oil block is in 5000 feet depth of water and was extremely difficult to explore. It took 15 years from the time that we were awarded the licence in 1993 till 2008 when we struck the first oil When this event happened, 60 per cent out of our 60 per cent equity in the business, was forcefully taken from us by the government of the day without due process. We had to fight back by going to court to seek redress and it took another 12 years for justice to be served in our favour. “In all those years it was my trust in God, my perseverance and the support of my family that got me going,” she said. . She used her experiences to charge the 2000 budding entrepreneurs at the event to be dogged, determined and not to give up in the face of challenges.



When Obasanjo spoke, the former president seized the opportunity to reply to the allegation by Alakija. “There is a saying in my part of the world that when a proverb touches you and you failed to reply, then you are a coward,” he said. Obasanjo explained that the action of the government then was in line with the Mining Act, which regulates oil prospection and exploration. “For you to come here and say that, for no cause whatsoever, you were denied what was rightfully yours, is not fair. “I do not know you from Adam and there is no reason I would have denied you what rightfully belonged to you. “So, you have struggled, and you have struck oil. God bless your heart. My delight is to be able to create Nigerian billionaire and I always say it that my aim, when I was in government was to create 50 Nigerian billionaires.



“Unfortunately I failed. I created only 25 and Madam, you are one of them,” he said. Obasanjo hailed the vision of Mr Tony Elumelu for helping to build African young entrepreneurs with his resources. He also urged the government to create conducive environment for people to move businesses into the country. The former president urged government to relax its visa policy and company registration process to encourage investors. He said the government should create certification centres in the country for easy exportation of agro processed products.


The President of Sierra Leone, Bai Koroma noted that what transpired between Obasanjo and Alakija was part of the challenges and difficulties that leaders lived with in the discharge of their duties. With limited resources competing for unlimited demands and expectations from the people, leaders were seen to be larger than life, he said. Koroma also commended Elumelu for his project for African young entrepreneurs adding that his vision resonated with a new Africa development agenda.


http://dawntodusknews.com/olusegun-obasanjo-to-folorunsho-alakija-made-billionaire/

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made her how?

see question from the poster above me, lets see if the one below will have the answers .
but baba you know make me billionaire kwa.

You don't know her from adam but you made her billionaire . . . What kind of contradicting talk is that?

Sibrah:
You don't know her from adam but you made her billionaire . . .
What kind of contradicting talk is that?

A government policy can make a citizen a billionaire without the president knowing he has unintentionally done so.

Baba Shege

Baba..no dey look face..

Senior citizen.

Wonder how many billionaires Bubu government go make..

I mean through their policies..not corruption..cos cabal don already dey..

Lol Baba never ceases to impress. .

It's good to have confidence.

Well, government policies during Obasanjo's regime might have affected her slightly; I know who made this woman rich - Maryam and her husband (IBB) did.

99% of so-called Yoruba billionaires made their money from Niger Delta oil. From Adenuga to Otedola to Obat to Tinubus/Oando to Alakija to Folawiyo to many more; virtually all of them from Niger Delta oil. Niger Delta people...You see why they love One Nigeria so much!

portfolio billionaires

If this man can make someone else a billionaire, and say it (supposedly).

You can only imagine how much of a "gazillionaire" he made himself and his family.

And yet in some people's imagination, although I hate to bring this up, GEJ was the most corrupt president that Africa has ever seen. Some people's herd mentality is astounding. Open ur eyes my people.

Well said sir. You always prove that yorubas are the best and i love them.

Confession time I hope u didn't do her what u did your daughter in law, Obj give and take personalised.
It's over to her we are waiting for your response Alaja F.

aguiyi2:
A government policy can make a citizen a billionaire without the president knowing he has unintentionally done so.

You are correct. OBJ government policies made people like Dangote, Otedola, Elumelu, Jim Ovia, etc what they are today.

Who was Dangote before the era of Obasanjo. Forget all th stories about his uncle Dantata loaned him N500k. Who N500k loan epp.

But I salute Mrs Alakija's doggedness.

They should all thank God for the free oil resource from Nigeria Delta.

Bluffing

Make I laf In 4g lte

Lala, I made yhu popular with Snakes

I thought it's IBB.

There is a saying in my part of the world that when a proverb touches you and you failed to reply, then you are a coward,”

Classic!



Trust baba to always deliver in this regard.

Clinton9000:
99% of so-called Yoruba billionaires made their money from Niger Delta oil. From Adenuga to Otedola to Obat to Tinubus/Oando to Alakija to Folawiyo to many more; virtually all of them from Niger Delta oil. Niger Delta people...You see why they love One Nigeria so much!

what we're the so-called niger-deltans doing when this people came to their region to make billions from their oil , drinking "sapele water" like gej did with his 6 years in office?


Nigerdeltans are lazy people. It took this woman 15 years prospecting , south-southern airheads don't have such patience- they prefer militancy .

She shouldn't have pointed finger so directly at the man that's a bit rude and she deserved the bit of humiliation. Yes obj made mistakes but the doors he opened for many as a typical naija man who watches others back is undeniable . Fact is he let y'all lay hands on naija delta freely as an independent business which I doubt that such opportunity can arise again in Nigeria. Normally only an oligopoly company will stand a chance in western countries. She better be thankful that she was in the right place at the right time . Otherwise she stands no chance ever. Now that Amala politics is over and the government eyes are now opened I wonder what opportunities the people have left

A government whose aim is to make billionaires instead of addressing poverty is a failed government.

whiteroses:
She shouldn't have pointed finger so directly at the man that's a bit rude and she deserved the bit of humiliation. Yes obj made mistakes but the doors he opened for many as a typical naija man who watches others back is undeniable . Fact is he let y'all lay hands on naija delta freely as an independent business which I doubt that such opportunity can arise again in Nigeria. Normally only an oligopoly company will stand a chance in western countries. She better be thankful that she was in the right place at the right time . Otherwise she stands no chance ever. Now that Amala politics is over and the government eyes are now opened I wonder what opportunities the people have left

Lmao at Amala politics is over lol I miss those days of Amala politics and Gbegiri electorates Anything is possible in Naija if you are well connected , imagine one person can just go to rig oil for a nation and start business , you just need to have capital and know IBB or OBJ the license is yours . What they don't know is that they used their own hand to spoil the country . Now if you have even ten times the capital you can't get anything! You will wait tire plus the tax and fee you will pay first will discourage your life

Folorunsho Alakija is a Billionaire', Stella Oduah is a corrupt politician while Patience Jonathan, who opened the first community bank in Rivers State can't make money.


Kikikikiki!

Keep deceiving yourselves. Among the three women I mentioned, she is the least to become a self-made billionaire without corruption and government dash dash.

Someone said import waiver is corruption because the bulk went to Easterner but allocation of Oil Well freely isn't corruption worth probing.

Diezani Madueke (who we were told that her wages can't buy her golden ornaments) can't in any way be compared to Folorunsho Alakija (a mere tailor) in anyway in Oil business and operations, yet her oil deals are corruption while Alakija's is doggedness.

Who be mumu in this contraception called Nigeria? Why not treat everyone equally, irrespective of region and use the same rule of law for every Dike, Tope and Haruna for a mutual sense of belonging.

Among the 25 billionaire how many are Igbo's,he only destroyed the Igbo's business @ slok air,Ibeto cement and others

kelechi50:
Among the 25 billionaire how many are Igbo's,he only destroyed the Igbo's business @ slok air,Ibeto cement and others

Andy Uba, Obasanjo's third term ATM

Emeka Offor, Obasanjo's Sao Tome and Principe oil front.

Clinton9000:
99% of so-called Yoruba billionaires made their money from Niger Delta oil. From Adenuga to Otedola to Obat to Tinubus/Oando to Alakija to Folawiyo to many more; virtually all of them from Niger Delta oil. Niger Delta people...You see why they love One Nigeria so much!

No wonder the Afonjas call Biafra a fraud because the resources they go Eastward will be taken by the indigenous owners and the oil billions will stop coming.

I have the belief that many of these anti-Biafrans are children of Oil billionaires, the rests are hungry oshogbo moronic tools who can't decipher crude from gbogbonise but shout 'Biafra, Biafra' on empty stomachs to protect the loot of the oil rich thieves.

aguiyi2:
A government policy can make a citizen a billionaire without the president knowing he has unintentionally done so.

yeah. OBJ initiated the local content policy and that is what he was referring to by "I made you a billionaire"

rose54321, how are you doing? You keep leading me to nice topics on politics section. Thanks.

Clinton9000:
99% of so-called Yoruba billionaires made their money from Niger Delta oil. From Adenuga to Otedola to Obat to Tinubus/Oando to Alakija to Folawiyo to many more; virtually all of them from Niger Delta oil. Niger Delta people...You see why they love One Nigeria so much!

and who tied the hands of Niger Delta from doing same? Go blame their leaders for selling the people in exchange for crumbs.

When GEJ said his policies made many business owners billionaires zombies insulted him that its not an achievement.

whiteroses:
She shouldn't have pointed finger so directly at the man that's a bit rude and she deserved the bit of humiliation. Yes obj made mistakes but the doors he opened for many as a typical naija man who watches others back is undeniable . Fact is he let y'all lay hands on naija delta freely as an independent business which I doubt that such opportunity can arise again in Nigeria. Normally only an oligopoly company will stand a chance in western countries. She better be thankful that she was in the right place at the right time . Otherwise she stands no chance ever. Now that Amala politics is over and the government eyes are now opened I wonder what opportunities the people have left

You have point. Classic!