— Oct 6, 2015 3:17 am | Leave a comment
President of Dangote Group, Aliko Dangote, has expressed confidence that Nigeria would weather the oil price crash that has decimated government revenues if it steps up its fight against corruption.
According to the press release from the company yesterday, Dangote stated this at the Financial Times Africa Summit in London, insisting that Africa’s most populous country would grow.
“Nigeria’s GDP won’t stagnate and we will have a short term shock but people should remember the Nigerian economy is resilient and huge,” he said
Dangote remarked that if the government of President Muhammadu Buhari continued its crackdown on corruption, the near 50 per cent oil price slump in the past year would be mitigated.
“The government has also suffered a lot of leakages; when oil was $100 a barrel we weren’t seeing all that revenue collected. If the government collects all its taxes and duties, I think we will be okay. We will not have as much as we had before but it will be okay,” Dangote said.
Also, Bloomberg has named Dangote among the 50 world’s most influential personalities.
The group of personalities chosen by the Bloomberg Market, consists of CEOs, world leaders as well as religious leaders. As expected, Barack Obama, Angela Merkel and Pope Francis made the list, with Dangote on number 41.
According to Bloomberg, those on the list build companies and assemble fortunes. They shape economies and spread ideas. They manage money and wield the clout that goes with the billions of dollars they invest.
Bloomberg said, “Aliko Dangote, founder, Dangote Group, Africa’s most successful businessman built his fortune in sugar, textiles, and cement in his native Nigeria where, today, he’s a political as well as a financial power broker. He’s expanding in other countries and may list his cement company in London.
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