englishmart:
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

grandstar:
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.

Remman:
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".

ednut1:
Interest rate plus diesel cost plus low purchasing power. Nawa

nedekid:

Work ethics maybe? Seems when you have a bunch of Nigerians things go south. He obviously does not want his Eg refinary going the way of Nigeria owned refinaries, Nigeria Airways, nigerdoc etc.

higgs:
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.

grandstar:
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.

BeeBeeOoh:

The billionaire said Dangote Cement alone paid “more taxes” into the coffers of the government “than the entire banking industry” in 2023.

grandstar:
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.

Brendaniel:
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....

Risingblue008:
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

Lithiumite:


How many jobs did you create when interest rates were lower......everyone who studied basic economics knows one of the ways to curb inflation is raising interest rates.....rates on savings would also go up thereby encouraging people to save or invest in securities,this would also lead to reducing liquidity which is a major check on inflation.

People borrow money to import dispensable things like toothpicks and toilet rolls which needs to be discouraged.....there are still industry specific special intervention loans that are less than 20% such as agric loans and grants

Mrkindness:
If this message comes from Obi sone children of hate will not let Obi rest.

englishmart:
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

Brendaniel:
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....

Lithiumite:


How many jobs did you create when interest rates were lower......everyone who studied basic economics knows one of the ways to curb inflation is raising interest rates.....rates on savings would also go up thereby encouraging people to save or invest in securities,this would also lead to reducing liquidity which is a major check on inflation.

People borrow money to import dispensable things like toothpicks and toilet rolls which needs to be discouraged.....there are still industry specific special intervention loans that are less than 20% such as agric loans and grants

englishmart:
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

englishmart:
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

OkpaNsukkaisBae:
As a businessman he knows better

englishmart:
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

kedeojo:
you don't know what you are talking, I know two people who earn big salary with dangote group. They are Nigerian's. Go to okpella in Edo state and say this nonsense and see if you will have two legs completed again. Dangote fresh graduate employee get better salary than many federal government agency not even state because he paid higher. Maybe you have a cleaner in his company and you want the person to collect a supervisor salary. Their are factors making product from companies not only him to be cost. He generate electricity, he construct mostly roads to his companies, obajana in kogi state is an example. Provide security and so on. Why for example Erisco tomatoes in can or satchel not cheap since he got almost the raw materials within the country. No company will roll out product that will be cheap when government neglect the basic things affecting production. Michelin and Dunlop left Nigeria during Obasanjo regime because of electricity and same Obj looted whooping 16b dollars meant for electricity. I worked in the telecom sector before, my company could not cope with the contract gotten from mtn and the owner have to sold it and still the current guys are still struggling. I don't actually blame MTN and others because they spent so much on electricity, solar, security and so on. Dangote is great and remains a pivotal figure. Outside federal government, he generate employment than others. Some state could not even pay ordinary 30k minimum wage.

waice6571:


Nigerian economic system does not support this kind of analogy. Local companies and multi-nationals are folding up in quick succession, without any strategic intervention from the government or plan to protect the manufacturing industry from total collapse.

Isn't it an awkward policy from the CBN? The manufacturing sector is gradually dying because of high costs of production and low market sales due to dwindling purchasing power of the masses and the only solution from the CBN is to increase the interest rate on business loan.

Realtruth2023:


That $16billion looting was first mentioned by Buhari and we foolishly carried it without asking what projects were the $16billion looted for. Again $16billion is not million oooo and it is not in naira considering how strong naira was during Obasanjo's time. I think those saying this are sounding like a broken record without bring data to back their allegation.