Dangote Rejects CBN’s High Interest Rate, Calls for Government Support it

The Chairman of the Dangote Group,Aliko Dangote, has raised his opposition, on the Central Bank of Nigeria’s nearly 30 percent interest rate, urging the government to back established companies.

Making this known at a Manufacturers Association of Nigeria (MAN) summit in Abuja, Dangote warned, “Nobody can create jobs with an interest rate of 30%. No growth will happen.”
He then emphasized the need for affordable financing and protection of domestic industries, citing that import dependence leads to poverty and job loss.

Dangote’s call to action stressed the importance of supporting local industries to combat insecurity and foster prosperity.