The Chairman of Dangote Industries Limited, Aliko Dangote, says Nigeria’s economic challenges can be turned around in a few months. Dangote spoke to journalists in Abuja after the Presidential Economic Council (PECC) inauguration on Thursday, July 4, 2024. He disclosed that Nigeria’s economic issues are not so bad, stating that its economy can be turned around in a few months and is already out of the challenges. Dangote said What I keep saying is that our issues are not that bad, this economy can be turned around within a few months and I think we are on that way.
Africa’s richest man also promised that the private sector would support the government by investing in jobs for Nigerians....CONTINUE READING

According to Dangote, the government does not create jobs but provides the needed environment by making the right policies. He cited interventions in the gas sector, such as the OB3 project, which he said will generate about $2 billion in revenue for Nigeria, Punch reports. Reports say that President Bola Tinubu promised to inject about N2 trillion into the economy to stimulate growth and economic activities and revive Nigeria’s ailing economy. The PECC was established in March and is chaired by the president. It includes vital government officials such as the vice president, the senate president, and the chairman of the governors’ forum.

Nigerian billionaires such as Aliko Dangote, Tony Elumelu, and Economist Bismarck Rewane will serve on the council for 12 months. Dangote had decried the high interest in Nigeria, saying it would scare investors away from the country. He disclosed that no real and meaningful economic growth will happen when the country has enormous interest rates.

He also exhorted the government to safeguard the nation’s existing companies, particularly manufacturers, by creating an atmosphere that fosters their success. He claims that a nation dependent on imports is the same as one that imports poverty. No Power, no prosperity. No affordable financing, no growth, no development,” he explained.