Fashola: Lagos Cut Land Price to Lure Dangote’s $19bn Refinery

Former Lagos State Governor Babatunde Fashola revealed he approved a discounted land rate to secure the Dangote Group’s decision to site its $19 billion refinery in Lekki. He credited then Commissioner for Commerce and Industry Olusola Oworu for persuading the State Executive Council that the long-term gains outweighed short-term land revenue. Fashola shared the story during a keynote at a women directors’ conference in Lagos, using it to highlight how strategic thinking and competence—rather than gender—drive effective leadership. He stressed that the choice to adjust land pricing kept the refinery in Lagos after stalled negotiations and set the stage for further investment. The conference also featured calls to move beyond mere board representation and strengthen women’s influence in corporate decision-making. Speakers urged stronger mentorship programmes and competence-based appointments to boost female leadership amid economic uncertainty.

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