Nigeria’s Economy Can Be Transformed in a Few Months, Says DangoteAliko Dangote, chairman of Dangote Industries Limited, expressed optimism that Nigeria’s economy can be significantly improved within a few months.
Speaking to journalists in Abuja after the inauguration of the Presidential Economic Coordination Council (PECC) on Thursday, Dangote said, “Our issues are not that severe; this economy can be turned around in a few months, and I believe we are on that path.”
Dangote also emphasized the private sector’s commitment to supporting job creation in Nigeria. “The private sector will back the government in investing heavily and creating jobs,” he stated. “While the government sets the right policies, the private sector can drive job creation. For instance, interventions in the gas sector and getting the OB3 pipeline operational will provide the country with an additional $2 billion.”
On July 4, President Bola Tinubu inaugurated the PECC and announced a N2 trillion economic stabilization plan aimed at revitalizing Nigeria’s struggling economy. Established in March, the PECC is chaired by the president and includes key government officials, such as the vice-president, the senate president, and the chairman of the governors’ forum. Prominent private sector leaders, including Dangote, Tony Elumelu, and Bismarck Rewane, will serve on the council for one year.
Earlier, on July 2, Dangote had cautioned that the Central Bank of Nigeria’s (CBN) decision to raise interest rates to nearly 30 percent would hinder economic growth.
