Alhaji Aliko Dangote, the President, Dangote Industries Ltd has criticized the Central Bank Nigeria, CBN’s 30 per cent interest rates, warning that such industry policy is capable of stifling business growth and job creation in the country.
Reports have it that the summit, held at the Banquet Hall, State House, Abuja, was declared open by Vice President Kashim Shettima. The industrialists also noted that foreign investors and manufacturers would be attracted only when they see that local investors are also doing well. He said stable, affordable power and access to finance by manufacturers and investors would guarantee growth, industrialisation and prosperity.He further said that when government policies become more supportive and protective, investors would be more willing to collaborate and partner with the government.
On Bank loans to investors, Dangote said that the current 30 per cent interest rate is stifling growth and there is no way anybody can create jobs.