When Obasanjo spoke, the former president seized the opportunity to reply to the allegation by Alakija. “There is a saying in my part of the world that when a proverb touches you and you failed to reply, then you are a coward,” he said. Obasanjo explained that the action of the government then was in line with the Mining Act, which regulates oil prospection and exploration. “For you to come here and say that, for no cause whatsoever, you were denied what was rightfully yours, is not fair. “I do not know you from Adam and there is no reason I would have denied you what rightfully belonged to you. “So, you have struggled, and you have struck oil. God bless your heart. My delight is to be able to create Nigerian billionaire and I always say it that my aim, when I was in government was to create 50 Nigerian billionaires.
“Unfortunately I failed. I created only 25 and Madam, you are one of them,” he said. Obasanjo hailed the vision of Mr Tony Elumelu for helping to build African young entrepreneurs with his resources. He also urged the government to create conducive environment for people to move businesses into the country. The former president urged government to relax its visa policy and company registration process to encourage investors. He said the government should create certification centres in the country for easy exportation of agro processed products.
The President of Sierra Leone, Bai Koroma noted that what transpired between Obasanjo and Alakija was part of the challenges and difficulties that leaders lived with in the discharge of their duties. With limited resources competing for unlimited demands and expectations from the people, leaders were seen to be larger than life, he said. Koroma also commended Elumelu for his project for African young entrepreneurs adding that his vision resonated with a new Africa development agenda.