The Chairman of the Dangote Group, Aliko Dangote, has
expressed concern over the decision of the Central Bank of Nigeria, CBN, to
raise the interest rate to nearly 30 per cent.
The business mogul made his opinion known at a summit hosted
by the Manufacturers Association of Nigeria, MAN, on Tuesday at the State House
in Abuja.
Dangote said that with the new interest rate, there will be
no growth, adding that it may even pose challenges in creation of jobs.
“Nobody can create jobs with an interest rate of 30%. No
growth will happen,” he said.
“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 industrialization without protection. Ignoring
these facts is what gives rise to insecurity, banditry, kidnapping and abject
poverty.”
Click to signup for FREE news updates, latest information and hottest gists everyday
Advertise on NigerianEye.com to reach thousands of our daily users
No comments
Post a Comment
Kindly drop a comment below.
(Comments are moderated. Clean comments will be approved immediately)
Advert Enquires - Reach out to us at NigerianEye@gmail.com