Africa’s richest man, Aliko Dangote has revealed the two things President Muhammadu Buhari must do to reverse the current economic recession.
Nigerian Television Authority (NTA) quoted Dangote as advising Buhari in a CNBC interview to embark on a wave of asset selling to boost the recession-hit economy.
He also says the government needs to show more political willpower to be in a better position to tackle economic recession.
“I think the real challenge for us is now for us to have the political will in terms of selling some assets,” Dangote said.
“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.”
Dangote dropped the advice just before Nigeria’s credit rating was downgraded to B from B+ by S&P Global Ratings on Friday, September 16.
“Nigeria’s economy has weakened more than we expected owing to a marked contraction in oil production, a restrictive foreign exchange regime and delayed fiscal stimulus,” S&P said in a report on the downgrade.
You can also read about some people who agree with Dangote's submission Activists demand urgent probes and sale of assets from Buhari to correct recession