The Chairman and Chief Executive Officer of the Dangote Group, Aliko Dangote, Tuesday, said rising interest rate hikes will hurt local manufacturers.

Dangote asserted at the opening session of a three-day National Manufacturing Policy Summit organized by the Manufacturers Association of Nigeria.

He argued that for the government to address the challenges of unemployment, poverty, and insecurity, the manufacturing sector must be empowered to function optimally. He emphasized that the crucial issue requiring attention is government policy and its approach toward investments and investors.