I Made You A Billionaire, Obasanjo Fires Back At Africa’s Richest Woman, Folorunsho Alakija

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.
According to Vanguard, 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.She alleged
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.
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“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.
“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.

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