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Nairaland Forum / Nairaland / General / Business / Interest Rate At 30% Will Stifle Growth, Hinder Job Creation - Dangote Warns CBN (16116 Views)
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Interest Rate At 30% Will Stifle Growth, Hinder Job Creation - Dangote Warns CBN by BeeBeeOoh(m): 8:40pm On Jul 02 |
Aliko Dangote, president of the Dangote Group, says the increase of interest rate to almost 30 percent by the Central Bank of Nigeria (CBN) will stifle growth. https://www.thecable.ng/interest-rate-at-30-will-stifle-growth-hinder-job-creation-dangote-warns-cbn/amp/ 22 Likes
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Re: Interest Rate At 30% Will Stifle Growth, Hinder Job Creation - Dangote Warns CBN by OkpaNsukkaisBae(m): 8:47pm On Jul 02 |
As a businessman he knows better 56 Likes |
Re: Interest Rate At 30% Will Stifle Growth, Hinder Job Creation - Dangote Warns CBN by Solofresh2: 8:47pm On Jul 02 |
Useless CBN 63 Likes 3 Shares |
Re: Interest Rate At 30% Will Stifle Growth, Hinder Job Creation - Dangote Warns CBN by Jostoman: 8:54pm On Jul 02 |
They are just using this CBN man to play their dirty politics. 56 Likes 2 Shares |
Re: Interest Rate At 30% Will Stifle Growth, Hinder Job Creation - Dangote Warns CBN by Remman(m): 9:13pm On Jul 02 |
Since CBN is politicised and not running autonomous expect anything. Tinubu's policy right from time has been to increase tax to cut the masses' purchasing power and that's what he's doing. Because they have a common saying which states "if you keep the populace hungry, they'll be easier to control". 65 Likes 1 Share |
Re: Interest Rate At 30% Will Stifle Growth, Hinder Job Creation - Dangote Warns CBN by englishmart(m): 9:50pm On Jul 02 |
Dangote said Nigeria's import dependency is akin to importing poverty and exporting jobs" This is someone who only values foreign workers. I know of an abysmally inept Filipino mechanic who doesn't know 22 spanners but earns 5k dollars+ monthly. The site has over 50 workers but their cumulative salary is less than N5m monthly. Once your skin is light, you're an engineer even if you come from prison. Dangote doesn't believe there are competent Nigerians, and that's why an Indian who doesn't know the difference between ampere and voltage is the head electrician to electrical engineers with decades of experience. The cement he produces almost free of cost is sold at a more expensive price in Naija than he sells in other countries on the continent. He should stop crying. Nigeria doesn't revolve around him and Edwin 106 Likes 14 Shares |
Re: Interest Rate At 30% Will Stifle Growth, Hinder Job Creation - Dangote Warns CBN by Nazgul: 9:50pm On Jul 02 |
Tinubu doesn't care about Nigerians. He's just looking for means to steal, loot and embezzle money so he can buy out those that matter in 2027 and retain his seat. That's why I shake my head whenever I see his hungry miscreants defending him online. That man would sell Nigeria if it would guarantee him a reelection. He cares about no one but himself. 45 Likes 3 Shares |
Re: Interest Rate At 30% Will Stifle Growth, Hinder Job Creation - Dangote Warns CBN by atiku4President(m): 9:51pm On Jul 02 |
Will they hear? 1 Like |
Re: Interest Rate At 30% Will Stifle Growth, Hinder Job Creation - Dangote Warns CBN by cjudy(m): 9:52pm On Jul 02 |
Dangote should warn the CBN direct 1 Like |
Re: Interest Rate At 30% Will Stifle Growth, Hinder Job Creation - Dangote Warns CBN by Risingblue008(m): 9:52pm On Jul 02 |
What is dis present government up to? 30% interest? How do pple defends this man still baffles me i swear. Dangote is sayin d fact 30%? Soon,b4 u leave ur house for work that u are not guaranteed of,tinibu will ask u to pay for tax,as in "work searching tax" Omo,this one pass d common man oo But the illitrates will not understands this Tinibu come show us peper for real,the inflation and lost of jobs will be unimaginable according to samuel.l.jackson Unimaginable 11 Likes |
Re: Interest Rate At 30% Will Stifle Growth, Hinder Job Creation - Dangote Warns CBN by Michael547(m): 9:52pm On Jul 02 |
Na wa 1 Like 1 Share |
Re: Interest Rate At 30% Will Stifle Growth, Hinder Job Creation - Dangote Warns CBN by FarmCEO1: 9:52pm On Jul 02 |
Fact 1 Like |
Re: Interest Rate At 30% Will Stifle Growth, Hinder Job Creation - Dangote Warns CBN by Brendaniel: 9:53pm On Jul 02 |
He built Lagos, he built Lagos, we told them this man is deceiving them, we warned them about Tinubu.... Even Dangote that hardly talks about the economy is beginning to speak out.... 40 Likes 1 Share |
Re: Interest Rate At 30% Will Stifle Growth, Hinder Job Creation - Dangote Warns CBN by Stevenson20: 9:53pm On Jul 02 |
CBN is confused. They're in a very helpless state. 9 Likes |
Re: Interest Rate At 30% Will Stifle Growth, Hinder Job Creation - Dangote Warns CBN by besticality: 9:53pm On Jul 02 |
How do they expect businesses to grow with 30%, whopping 30% interest rates. Dude will have to struggle with rent, salary, cost of production and other expenses with the remaining 70% . This is not sustainable. 28 Likes 1 Share |
Re: Interest Rate At 30% Will Stifle Growth, Hinder Job Creation - Dangote Warns CBN by JAMANZE: 9:54pm On Jul 02 |
Tinubu the Chicago state Economist 8 Likes |
Re: Interest Rate At 30% Will Stifle Growth, Hinder Job Creation - Dangote Warns CBN by reiddecuti: 9:55pm On Jul 02 |
Dun dee CBN governor. Him and druggie his master have sworn not only to destroy the economy but to bury it. 15 Likes 1 Share |
Re: Interest Rate At 30% Will Stifle Growth, Hinder Job Creation - Dangote Warns CBN by Codes151(m): 9:56pm On Jul 02 |
etims:now since it’s Dangote una say it’s obvious. What about 600k minimum wage 2 Likes |
Re: Interest Rate At 30% Will Stifle Growth, Hinder Job Creation - Dangote Warns CBN by Melagros(m): 9:56pm On Jul 02 |
COMRADES, everybody is tired of this useless government of APC No matter how good your advice is they will never take it 7 Likes |
Re: Interest Rate At 30% Will Stifle Growth, Hinder Job Creation - Dangote Warns CBN by kayjoasy: 9:57pm On Jul 02 |
Tinubu is next to nothing...a dullard 11 Likes |
Re: Interest Rate At 30% Will Stifle Growth, Hinder Job Creation - Dangote Warns CBN by ednut1(m): 9:57pm On Jul 02 |
Interest rate plus diesel cost plus low purchasing power. Nawa 7 Likes |
Re: Interest Rate At 30% Will Stifle Growth, Hinder Job Creation - Dangote Warns CBN by Fenomenal124(m): 9:57pm On Jul 02 |
[quote author=besticality post=130767046]How do they expect businesses to grow with 30%, whopping 30% interest rates. Dude will have to struggle with rent, salary, cost of production and other expenses with the remaining 70% . This is not sustainable. I must confess, rushing to start my own private firm early last year was one thing I'm regretting now. Although I'm very optimistic about my business but this country keeps giving you reason to give up. How can we sustain with This? 6 Likes |
Re: Interest Rate At 30% Will Stifle Growth, Hinder Job Creation - Dangote Warns CBN by EmmaLege: 9:59pm On Jul 02 |
True 2 Likes |
Re: Interest Rate At 30% Will Stifle Growth, Hinder Job Creation - Dangote Warns CBN by maxiuc(m): 9:59pm On Jul 02 |
Re: Interest Rate At 30% Will Stifle Growth, Hinder Job Creation - Dangote Warns CBN by grandstar(m): 10:00pm On Jul 02 |
As much as I sympathize with Dangote, there's no option bit to increase interest rates above inflation There's simply no alternative to slay inflation. All the curses being poured on Tinubus head would simmer once inflation is down. Interest rates won't stay high forever. Once inflation begins to come down, interest rates would begins to slide down as well. 5 Likes 4 Shares |
Re: Interest Rate At 30% Will Stifle Growth, Hinder Job Creation - Dangote Warns CBN by Mrkindness: 10:01pm On Jul 02 |
If this message comes from Obi sone children of hate will not let Obi rest. 18 Likes 1 Share |
Re: Interest Rate At 30% Will Stifle Growth, Hinder Job Creation - Dangote Warns CBN by Oakenshield: 10:02pm On Jul 02 |
Baterians and economic junk Lagos policies will finally kill Nigeria 9 Likes |
Re: Interest Rate At 30% Will Stifle Growth, Hinder Job Creation - Dangote Warns CBN by omowolewa: 10:04pm On Jul 02 |
Correct 1 Like |
Re: Interest Rate At 30% Will Stifle Growth, Hinder Job Creation - Dangote Warns CBN by Uncletony(m): 10:08pm On Jul 02 |
Trial and error government! 3 Likes 1 Share |
Re: Interest Rate At 30% Will Stifle Growth, Hinder Job Creation - Dangote Warns CBN by Confirm4real(m): 10:13pm On Jul 02 |
Dangote sef dey complain about Nigeria so who kon be me kwanu Nigeria we hail thee abeg... 2 Likes |
Re: Interest Rate At 30% Will Stifle Growth, Hinder Job Creation - Dangote Warns CBN by higgs: 10:14pm On Jul 02 |
This man Dangote is not just rich,he is also very intelligent. The CBN should reduce interest rates to stimulate economic growth and increase employment. I actually believe that inflation in Nigeria today is not caused by excess money supply but by fiscal problems like insecurity etc.Another major cause is the fast depreciating local currency. So raising interest rates so high creates more economic problems without solving the inflation problem. 16 Likes 4 Shares |
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