Pius Nsabe
On April 8, 2025, the earthly light dimmed on a quintessential nation builder – one whose influence traversed the business world within and outside Nigeria – marking his transition to another realm. A day short of his 86th birthday, Dr Pascal Dozie embraced the waiting arms of death, albeit as a fulfilled man.
Born on 9 April 1939, which was Easter Sunday, to Charles Dozie, a catechist who was residing in Ezeogba-Emekuku – a small village about 6 kilometres from Owerri in the Eastern part of Nigeria – and his wife, Janet, young Pascal attended Our Lady’s School, Emekuku, where he obtained his First School Leaving Certificate (FSLC).
He subsequently attended Holy Ghost Juniorate Seminary, Ihiala, in current Anambra State, and later Holy Ghost College, Owerri, where he obtained his West African Senior School Certificate Examination.
He would later travel to London where he studied Economics at the London School of Economics and obtained a BSc in Economics. Subsequently, he attended City University in London where he studied Operational Research and Industrial Engineering and obtained a master’s degree in Administrative Science.
At the early age of 15, Dozie lost his father, leaving his widowed mother with the burden of having to bring up the children. After his mother later died in 1998, he established a foundation in her memory – the Janet Dozie Foundation.
Blessed with five children, the story of how Dozie met his wife, Chinyere, is a fascinating one. It is told in his biography, Resilience: A Life of Pascal Dozie.
Pascal Dozie began his career as an economist at the National Economic Development Office in the United Kingdom. He was also a part-time lecturer at the North Western Polytechnic, London. Between 1970 and 1971, he served as a consulting economist at the African States Consulting Organisation in Uganda. In 1971, after he left his job in Uganda, he relocated to Nigeria.
After his return to Nigeria, with his experience in Econometrics and Industrial Engineering, he launched his first company, the African Development Consulting Group (ADCG). ADCG worked with major companies such as Nestlé and Pfizer. He was subsequently hired by Clement Isong, then Governor of the Central Bank of Nigeria, to conduct some studies on the Co-operative and Commerce Bank.
In 1985, Pascal was appointed Chairman of the now-defunct Progress Bank. It was in that same year that he applied for a banking licence in order to help traders in South-Eastern Nigeria who were faced with banking problems. This brought about the birth of Diamond Bank.
In the same biography, Resilience: A Life of Pascal Dozie, Pascal tells of how the name “Diamond Bank” came about.
At its inception, the share capital of Diamond Bank was ₦10 million ($28,000), with only 21 interested shareholders. In 1990, he satisfied the requirements of the Central Bank of Nigeria to operate a standard bank, and in 1991, Diamond Bank began operations. He was CEO of Diamond Bank from 1991 to 2006, when he handed over to his son, Uzoma Dozie, whom he had consciously groomed for the role.
Pascal Dozie was also at one time President of the Nigerian Stock Exchange. He also owned shares in MTN Group and was chairman of the company. He later resigned as the chairman and was succeeded by the former NCC boss, Ernest Ndukwe.
During his lifetime, Pascal, a strong believer in a good name, bagged several awards which included the National Award of the Order of the Niger (OON), Commander of the Order of the Niger (CON), and the All Africa Business Leader Award – Lifetime Achievement Award.
Pascal Dozie, as a private sector thinker and mobiliser, played a leading role in shaping Nigeria’s economic policies and frameworks for many years, especially in the 1990s through to the 2010s. One of his significant contributions was his involvement with the Nigeria Economic Summit Group (NESG), a pivotal institution in Nigeria’s economic development journey.
The formation of the NESG as a non-profit, non-partisan, private sector-led think tank and policy advocacy group started in 1993, and it held its first economic summit in that same year. It was founded in response to the need for a structured dialogue between the public and private sectors, and has had the core objective of fostering a conducive environment for economic growth and development in the country.
Pascal Dozie’s association with the NESG underscores his commitment to economic reforms and development in Nigeria. As a visionary entrepreneur and business leader, he brought his vast experience and strategic insights to the table, helping to shape the group’s policies and initiatives. The NESG was able to engage in high-level advocacy, policy dialogues, and partnerships that significantly impacted Nigeria’s economic landscape.
Although the first Nigerian Economic Summit was held in 1993, Pascal Dozie assumed the role of pioneer Chairman of the Nigerian Economic Summit Group in 1995.
Under his leadership, the summit group underwent a transformation, acquiring the necessary institutional frameworks and formalities to operate effectively as a structured and recognised institution. The evolution from a loosely organised initiative to a formalised institution was a gradual process facilitated by his leadership and vision, turning the summit into a long-lasting and impactful entity.
As a nation builder, Pascal believed nation-building is not a task to be left to the government alone. He believed professionals and businessmen and women all have a role to play in nation-building.
Pascal could not see the concept of citizenship outside of this philosophical frame of reference. Although he preferred to stay away from direct politics, he was always eager to put his intellectual and material resources at the disposal of the country.
His proactive approach to engaging with the government was worthy of emulation. Instead of merely lamenting shortcomings, he advocated for leveraging the private sector’s intellectual and material resources to complement governmental efforts. He emphasised the need to transcend traditional boundaries between government and private organisations, encouraging collaboration on a shared platform.
Through such initiatives, innovative solutions emerged, particularly evident in the telecommunications sector where private sector players like MTN contributed significantly. Pascal facilitated partnerships wherein private sector entities provided resources like vehicles to support government operations, fostering a sense of harmony and mutual benefit. This collaborative approach not only enhanced efficiency but also generated lasting value, extending well beyond immediate objectives.
Amidst various discussions, particularly within the telecommunications sector and the oil and gas industry, Pascal’s authoritative presence was evident. His ability to instil confidence in discussions, even during challenging times, was remarkable. Through his advocacy, Pascal sought to transform the dynamics of governance from an “us versus them” mentality to one of mutual cooperation and accountability, recognising the potential for positive change through collaborative efforts.
At various times and junctures in the evolution of Nigeria’s economy between the 1970s and the 2010s, Pascal Dozie offered extensive critical insights and visionary engagements in the nation’s quest for development. His perspectives on the national economy transcended mere analyses; they were often a call to action and a roadmap to prosperity.
One of his key perspectives was the importance of entrepreneurship. He championed the spirit of innovation and risk-taking, seeing it as the driving force behind economic growth. Through his writings and practice, he encouraged aspiring entrepreneurs to seize opportunities, create jobs, and contribute to national prosperity.
Pascal will be remembered for many positives, one of which is that he had a silent philanthropic nature that many people never got to know. He helped a lot of people without shouting it to the high heavens. Widows, indigents, staff, students – just name them – all benefited from his generosity.
As Pascal goes home to meet his creator at the ripe age of 86, family, friends, colleagues, business partners, and even acquaintances all had the same thing to say about this exemplary business leader: he was a good man who touched lives both with his lifestyle and his words.
May the soul of Dr Pascal Gabriel Dozie rest in perfect peace.
The full story of Pascal Dozie’s life and times is documented in his forthcoming biography — “Resilience: A Life of Pascal Dozie,” by Udu Yakubu to be published by Nigeria’s leading biography company, May Publishing.
