Africa’s richest man, Aliko Dangote, has suggested that selling of assets was a better way for the Nigerian government to boost the country’s recession-hit economy.

“I think the real challenge for us now is to have the political will in terms of selling some assets,” he said on Friday.

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“I think it’s an easier route than the IMF (International Monetary Fund) or the World Bank to borrow money, because what you need to do is actually to beef up the reserves,” he said.

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“If I had challenges in my company, I would not hesitate to sell assets to remain afloat to get to the better times, because it doesn’t make any sense for me to keep any assets and then suffocate the whole organisation,” he added.

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  • Ezeakolam

    I completely disagree with Aliko Dangote. Unless he can point the Assets he suggests. Borrowing and EFFECTIVELY spending it in industrial sector is the best and lasting option Selling any asset that is in Nigeria MAY only increase the amount of money in circulation i.e. inflation without achieving the required increase in GDP. Perhaps, does
    Aliko Dangote want to buy what is left in oil and minerals in of south
    South and South West?
    Nigerian’s recession is somehow unique because the economy will pull out of it quickly
    with increase in dollar and other foreign currency. Howevermy sincere suggestion is very simple. The federal government should borrowmoney to establish at least 10 turnkey refineries across the country that will supplement Dangot’s refinery coming up soon. The refineries can be independently listed in the NSE market. This will remove the pressure on foreign exchange reserve and create jobs.