Dangote Commits ₦550m Hostel Project to FUTO, Donates ₦25m to Students

Africa’s leading industrialist and President of Dangote Industries Limited, Aliko Dangote, has pledged to build a modern student hostel worth ₦550 million at the Federal University of Technology, Owerri (FUTO).

Dangote made the announcement during a visit to the university, where he delivered a public lecture titled “Enterprise, Leadership and Service to Humanity.” He also donated ₦25 million to the Student Union Government (SUG) to support student welfare initiatives.

The proposed hostel is expected to help address the institution’s ongoing accommodation challenges and improve living conditions for students.

Speaking during the lecture, Dangote encouraged Nigerians to focus on local production, highlighting the importance of “backward integration.” He warned that overdependence on imported goods weakens the economy, stating that it leads to increased poverty, inflation and unemployment.

He urged investors to channel resources into domestic industries, pointing to Asian economies as examples of growth driven by internal investment.

Addressing students, Dangote praised the talent and creativity of Nigerian youth, noting that engineers trained at the Dangote Refinery are gaining global recognition. He encouraged young people to embrace entrepreneurship rather than rely solely on job opportunities.

According to him, equipping youths with technical skills and proper mentorship will enable them to build businesses that can diversify Nigeria’s economy beyond oil.