Nigeria Struggling With Electricity Supply For 18 Years to Add 1,000 MW – Dangote
The President of the Dangote Group, Aliko Dangote, says erratic power supply is killing Nigeria’s industries and the economy, adding that the availability of consumer credit facility is an important option in fighting corruption in the country.
Mr. Dangote said this on Saturday in Lagos at a consultative roundtable titled, “Going for Growth” with some economic stakeholders.
He said that the Central Bank of Nigeria (CBN) and commercial banks should develop consumer credit products to encourage low-income earners to engage in loan taking.
He called for a public-private partnership to boost the non-oil sector of the economy and added that Nigerians should invest in the development of the non-oil sector which had been left in the hands of foreigners.
Also, the former Managing Director of Stanbic IBTC, Peterside Atedo, urged the CBN to continue with the effort taken in reducing the inflation rate from 18 percent to as low as 11.37 percent as at April 2019.
Mr. Peterside said the CBN should use the same pace to bring the country’s inflation rate to a single digit.