Recent revelations from Aliko Dangote at General Ibrahim Babangida’s book launch, along with Prince Arthur Eze’s own testimony have once again exposed the deep-seated inequalities that have long defined Nigeria’s economic and political landscape.
Dangote openly admitted: ‘He (Babangida) called us into a room and gave us banking licences… He asked us to pay one million (Naira) each for oil blocs’.
Meanwhile, Eze declared that he, Dangote, Mike Adenuga, and a few others were ‘brought up’ by Babangida, stating that without his direct intervention, he (Eze) ‘would have long been dead’.
These statements confirm what young Nigerians have always suspected — the wealthiest figures in Nigeria were not simply products of exceptional hard work and perseverance, but beneficiaries of a system that handed them privileged access to opportunities, resources, and state-backed economic advantages.
Yet, most of these same individuals now stand on their podiums, telling young Nigerians to ‘work hard and persevere’. Even more insulting, former President Muhammadu Buhari dismissed young Nigerians as ‘lazy’, despite the countless obstacles they face in a system that remains rigged against them.
The hypocrisy is glaring. A handful of men were gifted access to oil blocs, banking licences, and economic monopolies with little to no competition. Yet, today’s young Nigerians are expected to fight for survival in an economy where:
* Government policies stifle innovation and favor monopolies.
• Corruption ensures that only the well-connected thrive.
• Youth-led businesses struggle due to a lack of access to capital and a hostile business environment.
• Unemployment and underemployment rates are at record highs, leaving millions without a clear path to prosperity.
There is a demand for a fairer Nigeria.
Nigerian youths are not lazy, and they are not asking for handouts. They are demanding a level playing field — a system where success is based on merit, not political connections or favouritism. They want:
(1) Transparent Access to Opportunities: No more backroom deals that hand national wealth to a privileged few.
(2) Equal Economic Participation: Young entrepreneurs should have access to funding. and support without needing elite connections
(3) A Merit-Based System: Policies must promote fair competition, not protect monopolies.
(4) Government Accountability: Leaders must stop gaslighting the youth and start addressing the systemic issues that hinder progress.
The interesting questions for Nigeria’s leaders become: if the current economic giants were truly self-made, why didn’t they compete on an open and level playing field? Why were they given resources and opportunities behind closed doors while today’s youth — the ones that are not standing on the shoulders of the old privileges — are left to fend for themselves?
Nigerian youths are ready to build, innovate, and contribute to national prosperity, but they have lost patience for a system designed to exclude them,while the privileged few lecture them about hard work. It is time for real change, not empty rhetoric.
Statements at the Babangida book launch are revealing.
Owunne is a development expert
