Nigerian Economy Can Be Revived In Few Months – Dangote

• The business tycoon also promised that the private sector will advise the government on the type of policies to be implemented to revamp the economy.

Nigerian economy can be turned around in a few months, Chairman of the Dangote Group, Aliko Dangote, has said.

Dangote said the Public and private sectors must work together to bring the economy out of doldrums and place it on sound footing that will usher in growth and development.

He said this while the State House Correspondents after the inauguration of the Presidential Economic Coordination Council (PECC) by President Bola Tinubu.

The business tycoon also stated that the private sector will advise the government on the type of policies to be implemented to revamp the economy.

He said: “This is where the public and private sector will work together. We will advise the government on the type of policies needed to revamp the economy.

“Our economy can be turned around in few months. Things will soon change. We will work to make sure that things change for the better.”

Dangote’s statement comes after he faulted the hike of interest rate to almost 30 per cent by the Central Bank of Nigeria (CBN).

He had said no tangible economic growth can be achieved with such interest rate.

He spoke at the Banquet Hall of the Presidential Villa in Abuja at the commencement of a three-day summit organised by the Manufacturers Association of Nigeria (MAN).

Dangote called for new policies that would protect domestic industries.

He implored the federal government to protect existing businesses in the country, especially manufacturers, by providing an enabling environment for them to thrive.

He had stated: “Nobody can create jobs with an interest rate of 30%. No growth will happen. We must look to leading countries in the West and the East who are actively protecting their domestic industries.

“Import dependence is equivalent to importing poverty and exporting jobs. No power, no growth, no prosperity. Similarly, no affordable financing, no growth, no prosperity. There is no industrialisation without protection. Ignoring these facts is what gives rise to insecurity, banditry, kidnapping and abject poverty”, he stressed