Dangote speaks on Nigeria's economic recession
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- čas přidán 15. 09. 2016
- CNBC Africa's Wole Famurewa speaks exclusively to Aliko Dangote, Africa's richest man and President of the Dangote Group about the economic slowdown in Africa, Nigeria's economic recession and his latest investments.
God bless you Aliko
When Dangote speaks everyone listen
Reason, he has walked the talk
Mr Dangote you are right value addition is the only way out of poverty.
Nigeria Shall Prevail!,,, GOD BLESS NIGERIA
I agree Nigeria has almost EVERY single factor to prosper...but with all the barriers such as corruption, unemployment,weak current oil market demand and the US-created Boko Haram in Kano state ...
Nigeria seriously has difficulties in achieving future goals of prosperity and welfare.
Juzi Michael
he said we importing poverty and exporting jobs 👍😂
rob thompson i agree with you, cos we import 90% basic things we nee in Nigeria. importing poverty and exporting Jobs.
Yes Nigeria is exporting Jobs as Nigeria is heavily dependent on foreign labor and thousands of foreigners who go to Nigeria to work with high salaries ...
While Nigerian labor is weak,inefficient and cheap since there are no suitable universities in Nigeria
And it is importing poverty by almost importing EVERY finished product and exporting raw material and re-export it in form of finished products with high prices.
And concerning the service sectors all the airlines, oil refineries,shipping companies ,hospitals and hotels are managed by foreigners with the Nigerian tax benefit.
Shaytan's Advocate
Good business Dangote i like it.
Our role model.
Brilliant business man
HE`S INTELIGENT
yo, this guy keep saying billions . over and over, my head don blow..ooooooh..
Business genius
Will they listen to innovative geniuses or to the politics?.... @"importing poverty rather than investing in the future".. Very few guys like this ..talking numbers, percentages, abbreviations and figures, figures, figures.
Recession are the best times to invest or immediately after. eyes keen and ears are sharper
the key of the take can be sum up by these factors
a political clear strategic long term vision
invest in infrastructure and the power energy
develop the intra african trade when the infrasctuture will be a reality
break down the legal walls intra africans
thats it the result will be a stimuation of the investors and the private sector that will see clearly a long term vision on the return to their investments and possibility to built intra african's group with a huge market
we need to have some leadership in ours govenment tht will fix the isssues proprely!!!!!!!!!
Its just the truth we need to sell assets
A lot of the points here explain clearly why Nigeria is in such a mess. when a man that knows his A from his B is making some solid innovative business ideal all he get is exactly this responds. of course he is greedy, it is an attribute of being successful but he is creating a demand and taking a high risk... he have earned the right to be greedy
He is spot on, i now understand why we should sell assets. A sharp increase in foreign reserves would crash the dollar to the naira, while govt should get out of the oil business as a means of revenue and depend more on taxes. Instead of having only one major LNG company owned by govt, when you can create the environment for a hundred new companies to compete, @ the end of the day you would make the same or more revenue tru taxes and of course thousands of new jobs. Replicate for other sectors and you have a diversified economy
however, he'll do a better job with it than an incompetent and ineffective government
government shouldn't be in the business of creating factories
they should be in the business of collectinng taxes
pls naij dont sale ohhh dangote borrow us
Nigeria Govement should allow competetive business in every area in Nigeria, not only Dangote. that´s were we also havin problem.
joseph nduka ,,dangote has bought nigeria long time ago. Federal republic of northern nigeria closed down so many businesses in the east to make sure he is the richest man in Africa. Criminal ps advising criminals. Let's sell nothing, all he wants is to buy something,that's all. What about agricultural development, nigeria should heavily encourage it, it provides serious employment and local consumption, let's stop importing everything, etc. this is one of the ppl who've put nigeria in its current state, empty heads blame Jonathan, and forgive obasanjo,Atiku,oil block owners etc. dangote cement in Senegal is cheaper than in nigeria. What a coincidence !. I love his business acumen, but his actions are not checked and his motives are dubious.
Like which business is CLOSED for competition? You speak the language of a loser! Dangote has no monopoly on anything. Success breeds more success - try it!
Cheap propaganda! You do not lack because Dangote has plenty! There is enough in the universe for everyone - stop the hate and envy. Cement will be cheaper when you sort out your power shortages and shallow brains like yours.
Nigeria is a very strong producer of products.to get out of its recession look at what started the recession. Is to tighten its political belt, (spending) debt creates a recession. deflate the national debt, and increase its exports slow imports.. developing its unseen economic opportunities. an example it's intangible assets. Your people are great people, utilize your people better. Lastly, make better deals for your exports. use examples of China and the United States. Anu company coming into Nigeria should give back to the infrastructure.
Enough of talking, our dear country needs action to revive the economy
I disagree, never sell your assets, if they can make it profitable we can, paper means nothing.
Est ce que vous parler en Nigerien
Thank you so much mr Dangote I love what you do to Africa
I agreed with President of Dangote group that we import suffering and export our comfort.
Dangote you should live by example, 90% Dangote goods is bein imported..
Hmmmm....How did he get so rich and the vast majority are so poor. Shame I didn't get it.
Why you don't beleaf in God?
This man na serious mumu. Sell off assets? How is he able to run his businesses? Oh, wait! He wants to buy the assets. Ole!
Sell sell sell to who? the same bg eggs will sell to there family members..
God help Nigeria..
he probably wants to buy nnlg for himself. greedy man.
+talk2me9ja what? He is right Oga.
Hahahahaha ..ROFL.. Why is he emphasising on selling NLNG? Can't Nigeria sell other assets that are less productive or underperforming? Moreover I see nothing wrong with government owning factories to create employment as long as it boosts the GDP. All the same Dangote speaks like a core business man, he identifies weaknesses and preys on it. Nice one
I agree with his points on creating incentives for businesses and creating investment friendly environment for potential investors. It's difficult for an economy to grow under strong chains of heavy taxes.
Dangote should also understand that the reserve had been at 40 billion before it crashed to an all time low. So it makes no difference boosting reserve by selling assets just because we want make the Naira strong, then what happens if the reserve crashes again? We may resort to selling slaves at the end of the day! I think it's best we address the real issues as to why reserve are not strong instead of working out temporal solutions to prop up the reserve. And the answer is creating an EFFICIENT and PRODUCTIVE ECONOMY!
You missed one line for your closing statement, EFFICIENT and PRODUCTIVE ECONOMY and the killing of THIEVES THAT KEEP HIDING THE MONEY THAT IS SUPPOSED TO GO TO INVESTMENT OR GOVERNMENT RESERVES. On My life, I will swear any day and any time, there are thousands of company own accounts without a real company owning them, all these accounts were created for the sole purpose of looting.
A system cannot be EFFICIENT if its leaking. In other words we cannot have an efficient economic system if we have saboteurs who are always ready to milk the treasury dry without being convicted.
There is no strong correlation between the economy and the currency value...Nigerians can make there currency stronger by making oil importing countries(Such as China) pay them by Naira instead of Dollars since Nigeria is a major member of OPEC this will boost the Naira to unexpected rates...and Nigeria(Along with all the other west African countries) has cheap labor,huge land ,Capital and money reserve along with raw materials so the country can invest by buying new assets and sell the old unefficent ones this in the short term will use reserves but will benefit the country in the long term as this will have a huge benefit in the GDP and Inward FDI instead of fully depend on oil which has a volatile market
But we MUST NOT forget the major cancer the Nigerian officials and politicians who can steal up to 10 billion USD in their pocket.
talk2me9ja
You are very welcome and thank you for reading my comment,brudda...I am Arab but I love Nigerians and black people in general because they are kind and honest
I had A LOT of Nigerian and African students in my university(AASTMT) to whom I was a friend I am not an economist I am an undergraduate majoring in shipping and port management but I love reading and debating about economics and politics
Glad to hear your feedback brother.
talk2me9ja
Thank you
Is Dangote the only business man in Nigeria?
Greedy man
Godwin Emeka
Hater