Dangote Predicts What May Happen To Nigerian Economy In Few Months

Aliko Dangote, Chairman and Chief Executive of the Dangote Group, expressed optimism about the potential for rapid transformation in the Nigerian economy during an interview with State House Correspondents on Thursday.

His comments followed the inauguration of the Presidential Economic Coordination Council (PECC) by President Bola Tinubu, where Dangote underscored the critical role of collaboration between the public and private sectors in revitalizing the nation’s economy.

Dangote emphasized that the private sector stands ready to provide guidance to the government on essential policies needed for economic recovery. He stressed the potential for significant improvements in the economy within a short period, expressing confidence that collaborative efforts would lead to positive changes.

The renowned industrialist’s remarks came in the wake of his criticism of the Central Bank of Nigeria’s decision to raise interest rates to nearly 30%.

At a recent summit organized by the Manufacturers Association of Nigeria (MAN), Dangote advocated for new policies aimed at protecting domestic industries. He highlighted the importance of creating a conducive environment for existing businesses, particularly manufacturers, to thrive.

Dangote argued against dependency on imports, asserting that it perpetuates poverty and leads to job losses. He called for policies that support industrialization and protect local industries, citing successful models from leading global economies.

The industrialist concluded by reaffirming Nigeria’s potential to develop a competitive manufacturing sector capable of contributing significantly to global trade.

He urged a reconsideration of industrialization policies, advocating for measures that nurture domestic industries into robust contributors to national prosperity and job creation.