Former Lagos State Governor, Babatunde Fashola (SAN), has disclosed that the Lagos State Government deliberately reduced the price of land allocated to the Dangote Group to ensure the multi-billion-dollar refinery project was sited in the state.
Fashola said the strategic decision by his administration ultimately facilitated the establishment of the 650,000-barrel-per-day Dangote Petroleum Refinery in the Lekki Free Zone, describing it as a long-term investment that has yielded significant economic benefits.
Speaking at the Chartered Institute of Directors (CIoD) Nigeria Women Directors’ Biennial Conference in Lagos, where he delivered the keynote address titled “From Presence to Power: Advancing Women’s Influence in the Boardroom,”Fashola explained that the decision followed a crucial intervention by the then Commissioner for Commerce and Industry, Mrs. Olusola Oworu.
According to him, negotiations with the Dangote Group had stalled after the company considered the state’s asking price for the land too expensive.
Fashola noted that although Lagos operated a fixed pricing policy for land allocations, Oworu persuaded the State Executive Council to prioritise the long-term economic benefits of securing the investment over immediate revenue from land sales.
He recalled that Oworu argued the state still had thousands of hectares of undeveloped land within the Lekki Free Zone and that offering a concession to attract a $19 billion refinery project would significantly increase the value of the remaining land while drawing additional investments to the area.
“That was a thinking decision. The whole council then looked at me, and I surrendered,” Fashola said, noting that the intervention changed the course of deliberations and ensured the refinery project remained in Lagos.
He said the experience underscored the importance of competence and strategic thinking in leadership, regardless of gender.
“Ineffectiveness is not a gender thing; it is a human thing,” he added.
Fashola cited the episode as evidence of the value women bring to leadership and decision-making, urging organisations to focus on competence, preparation and impact rather than gender when making appointments.
Earlier at the conference, speakers called on public and private institutions to move beyond increasing the numerical representation of women on corporate boards and instead provide greater opportunities for them to influence strategic decision-making.
First Vice-President of CIoD Nigeria, Mrs. Amina Oyagbola, observed that although more women now serve on corporate boards and occupy leadership positions, they remain underrepresented in board chairmanships and executive roles where critical decisions are made.
She advocated stronger mentorship and sponsorship initiatives to prepare more women for top leadership positions.
Also speaking, President and Chairman of the Governing Council of CIoD Nigeria, Adetunji Oyebanji, stressed that board appointments should be based on competence, integrity and professional capability rather than traditional pathways that have historically limited women’s access to senior leadership roles.
