Nigeria’s economy can turn around in coming months, says Dangote

Mr. Aliko Dangote, the President of Dangote Industries Limited, has said that Nigeria has the necessary resources to revitalise its economy within the next few months.

He made this statement on Thursday during a briefing to State House correspondents following the inauguration of the Presidential Economic Coordination Council (PECC) by President Bola Tinubu.

The PECC, tasked with strategising a way out of the current economic situation in the country, has a mix of government officials, top private sector players, and consultants including Dangote; Chairman of the United Bank of Africa, Mr Tony Elumelu; and Chief Executive Officer of the Financial Derivatives Company Limited, Bismarck Rewane.

Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun said the Council is to meet and report to the President monthly.

Dangote applauded the president’s initiative, saying it will better the economy of the country and the Nigerian populace.

He said members of the council from the private and public sectors would sit regularly to advise the government on the kind of policies that the government should roll out.

“Most of these things, we have them, there are already been discussed over and over again, it is a matter of implementation. I think the choice of people that are on the PECC, they are good enough to be able to advise the government on how to implement the policies,” said Dangote, who is Africa’s richest man.

“The private sector will do its bit which is to invest heavily and create jobs. Government don’t create jobs, what they do is to give us the right policies. We have all these policies.

“I keep saying our issues are not that bad, this economy can be turned around within a few months and I think we are on that way. I thank the President for inaugurating this Council.

“We will start working immediately and I can assure you (that) you will see a lot of changes coming. We have what it takes to turn around this economy. We are going to work hard to make Nigerians proud.”

Nigeria is battling inflation, high cost of living, and other economic crises sparked by the government’s twin policies of petrol subsidy removal and unification of forex windows.