While addressing the audience during the opening session of a three-day summit Organised by the Manufacturers Association of Nigeria (MAN) at the Banquet Hall of the State House, Abuja, Dangote said businesses could not cope with the current rate.
In May, following a two-day meeting, CBN’s Monetary Policy Committee agreed to increase the Monetary Policy Rate for the third straight time from twenty four point seven five per cent to twenty six point two five per cent.
However, while speaking during the manufacturer’s summit, Dangote noted that nobody can create jobs with an interest rate of thirty percent, noting that no growth will happen.
He also called on the government to protect existing businesses in the country, especially manufacturers by providing an enabling environment for them to thrive.
According to him, an import-dependence country is equivalent to poverty importation.
