By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: Dangote Slams CBN’s 26% Interest Rate, Calls for Support for Manufacturers
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
Business

Dangote Slams CBN’s 26% Interest Rate, Calls for Support for Manufacturers

Adamu Abubakar
By Adamu Abubakar
Published: July 2, 2024
Share
1 Min Read
SHARE

Aliko Dangote, Chairman and CEO of the Dangote Group, has criticized the Central Bank of Nigeria’s (CBN) recent decision to raise the interest rate to 26.25%, stating that it will hinder businesses and economic growth. Speaking at a manufacturers’ summit in Abuja, Dangote emphasized that high interest rates make it impossible to create jobs and stimulate growth.

He urged the government to protect and support existing businesses, particularly manufacturers, by providing an enabling environment for them to thrive. Dangote stressed that import dependence is equivalent to poverty importation and that affordable financing is essential for growth and development.

The Manufacturers Association of Nigeria (MAN) also expressed concerns about government policies and attitudes, which they believe have contributed to the sector’s poor performance. Over 70 manufacturers have exited the sector between 2019 and 2022, according to MAN President Otunba Francis Meshioye. Vice President Kashim Shettima and other government officials attended the event.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:Aliko Dangote
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
Previous Article Imo Assembly Suspends Four Members Over Alleged Impeachment Plot
Next Article Delta Air Lines FG Clears $850m Debt to European Airlines

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Rate

Okay.ng Logo
Buy Rate ₦1,560.00
Sell Rate ₦1,570.00

Updated: 2 days ago

Displayed rates are for informational purposes only and are subject to change.

Quick Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Dangote Refinery Unveils N720bn CNG Truck Fleet to Slash Fuel Costs, Save Nigeria Over N1.7trn Annually
Energy & Oil
Nigerian Troops Neutralize Terror Kingpin Mai Dada, Recover Arms in Multi-Region Operations
Security
NNPP Welcomes Possibility of Rabiu Kwankwaso Joining APC Amidst Ganduje’s Resignation
News
Tinubu’s State Visit to Saint Lucia Marks Historic Diplomatic and Cultural Engagement, Presidency Clarifies
International News
President Bola Tinubu Suspends Implementation of Financial Reporting Council Amendment Act 2023
News
- Advertisement -
Ad imageAd image

You May Also Like

News

Aminu Dantata to be Buried in Madinah After Saudi Approval

Muhammad A. Aliyu
Muhammad A. Aliyu
June 29, 2025
CrimeVideo

VIDEO: NDLEA Issues Strong Advisory to Travellers Against Carrying Unknown Bags

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 29, 2025
News

SERAP Demands Transparency from Nigeria’s Governors on Security Vote Spending

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 29, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?