Dangote says Buhari should sell assets to stop recession

Dangote says Buhari should sell assets to stop recession

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.

Dangote says Buhari should sell assets to stop recession

Africa's richest man, Alhaji Aliko Dangote, has unveiled what President Buhari must do to end 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.

READ ALSO: Recession: More woes for Buhari government as S&P downgrades Nigeria

“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 says Buhari should sell assets to stop recession

President Buhari has been told to sell his jets urgently.

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.

READ ALSO: Buhari minister confesses, admits Nigerians are truly suffering

“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

Source: Legit

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