Businessman and philanthropist Femi Otedola has asserted that Nigeria requires visionaries who would build industries with their wealth to foster the country’s economic growth.

Mr Otedola’s assertion comes amid the ongoing feud between his fellow businessman, Aliko Dangote and the oil regulatory body, the Nigerian Midstream and Downstream Petroleum Regulatory Agency (NMDPRA), over the former’s refinery located in Ibeju-Lekki, Lagos State.

In a statement shared on X Tuesday, Mr Otedola emphasised that recognising and supporting “titans”, “local champions”, and “visionaries” such as Mr Dangote “is crucial for our national development and economic independence” and to “drive our nation’s progress.”

“Countries in the nascent stages of industrialisation require visionary leaders,” said Mr Otedola. “This is why it’s no surprise that the United States was built by the vision and tenacity of a few remarkable individuals—Cornelius Vanderbilt, John D. Rockefeller, Andrew Carnegie, J.P. Morgan, and Henry Ford—THE MEN WHO BUILT America’s industrial landscape. “

Mr Otedola said the individuals who established industries had the backing of their government, which acknowledged the importance of “local champions” in national development.

He added, “Their contributions were immortalised not in the material wealth they amassed but in the enduring institutions and industries they established. These visionaries were also supported by their government, which recognised the importance of fostering local champions.”