NewStats: 3,264,178 , 8,182,876 topics. Date: Tuesday, 10 June 2025 at 03:56 AM i2w5e6z3e3g |
Interest Rate At 30% Will Stifle Growth, Hinder Job Creation - Dangote Warns CBN (16485 Views)
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BeeBeeOoh(m): 8:40pm On Jul 02, 2024 |
Aliko Dangote, president of the Dangote Group, says the increase of interest rate to almost 30 percent by the Central Bank of Nigeria (CBN) will stifle growth. https://www.thecable.ng/interest-rate-at-30-will-stifle-growth-hinder-job-creation-dangote-warns-cbn/amp/ 22 Likes |
OkpaNsukkaisBae(m): 8:47pm On Jul 02, 2024 |
As a businessman he knows better
56 Likes |
Solofresh2: 8:47pm On Jul 02, 2024 |
Useless CBN
63 Likes 3 Shares |
Jostoman: 8:54pm On Jul 02, 2024 |
They are just using this CBN man to play their dirty politics.
56 Likes 2 Shares |
Remman(m): 9:13pm On Jul 02, 2024 |
Since CBN is politicised and not running autonomous expect anything. Tinubu's policy right from time has been to increase tax to cut the masses' purchasing power and that's what he's doing. Because they have a common saying which states "if you keep the populace hungry, they'll be easier to control".
65 Likes 1 Share |
englishmart(m): 9:50pm On Jul 02, 2024 |
Dangote said Nigeria's import dependency is akin to importing poverty and exporting jobs" This is someone who only values foreign workers. I know of an abysmally inept Filipino mechanic who doesn't know 22 spanners but earns 5k dollars+ monthly. The site has over 50 workers but their cumulative salary is less than N5m monthly. Once your skin is light, you're an engineer even if you come from prison. Dangote doesn't believe there are competent Nigerians, and that's why an Indian who doesn't know the difference between ampere and voltage is the head electrician to electrical engineers with decades of experience. The cement he produces almost free of cost is sold at a more expensive price in Naija than he sells in other countries on the continent. He should stop crying. Nigeria doesn't revolve around him and Edwin 106 Likes 14 Shares |
Nazgul: 9:50pm On Jul 02, 2024 |
Tinubu doesn't care about Nigerians. He's just looking for means to steal, loot and embezzle money so he can buy out those that matter in 2027 and retain his seat. That's why I shake my head whenever I see his hungry miscreants defending him online. That man would sell Nigeria if it would guarantee him a reelection. He cares about no one but himself. 45 Likes 3 Shares |
atiku4President(m): 9:51pm On Jul 02, 2024 |
Will they hear?
1 Like |
cjudy(m): 9:52pm On Jul 02, 2024 |
Dangote should warn the CBN direct
1 Like |
Risingblue008(m): 9:52pm On Jul 02, 2024 |
What is dis present government up to? 30% interest ![]() How do pple defends this man still baffles me i swear. Dangote is sayin d fact 30%? Soon,b4 u leave ur house for work that u are not guaranteed of,tinibu will ask u to pay for tax,as in "work searching tax" Omo,this one d common man oo But the illitrates will not understands this Tinibu come show us peper for real,the inflation and lost of jobs will be unimaginable according to samuel.l.jackson Unimaginable 11 Likes |
Michael547(m): 9:52pm On Jul 02, 2024 |
Na wa
1 Like 1 Share |
FarmCEO1: 9:52pm On Jul 02, 2024 |
Fact
1 Like |
Brendaniel: 9:53pm On Jul 02, 2024 |
He built Lagos, he built Lagos, we told them this man is deceiving them, we warned them about Tinubu.... Even Dangote that hardly talks about the economy is beginning to speak out.... 40 Likes 1 Share |
Stevenson20: 9:53pm On Jul 02, 2024 |
CBN is confused. They're in a very helpless state.
9 Likes |
besticality: 9:53pm On Jul 02, 2024 |
How do they expect businesses to grow with 30%, whopping 30% interest rates. Dude will have to struggle with rent, salary, cost of production and other expenses with the remaining 70% . This is not sustainable. 28 Likes 1 Share |
JAMANZE: 9:54pm On Jul 02, 2024 |
Tinubu the Chicago state Economist
8 Likes |
reiddecuti: 9:55pm On Jul 02, 2024 |
Dun dee CBN governor. Him and druggie his master have sworn not only to destroy the economy but to bury it.
15 Likes 1 Share |
Codes151(m): 9:56pm On Jul 02, 2024 |
etims:now since it’s Dangote una say it’s obvious. What about 600k minimum wage 2 Likes |
Melagros(m): 9:56pm On Jul 02, 2024 |
COMRADES, everybody is tired of this useless government of APC No matter how good your advice is they will never take it 7 Likes |
kayjoasy: 9:57pm On Jul 02, 2024 |
Tinubu is next to nothing...a dullard
11 Likes |
ednut1(m): 9:57pm On Jul 02, 2024 |
Interest rate plus diesel cost plus low purchasing power. Nawa
7 Likes |
Fenomenal124(m): 9:57pm On Jul 02, 2024 |
[quote author=besticality post=130767046]How do they expect businesses to grow with 30%, whopping 30% interest rates. Dude will have to struggle with rent, salary, cost of production and other expenses with the remaining 70% . This is not sustainable. I must confess, rushing to start my own private firm early last year was one thing I'm regretting now. Although I'm very optimistic about my business but this country keeps giving you reason to give up. How can we sustain with This? 6 Likes |
EmmaLege: 9:59pm On Jul 02, 2024 |
True
2 Likes |
maxiuc(m): 9:59pm On Jul 02, 2024 |
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grandstar(m): 10:00pm On Jul 02, 2024 |
As much as I sympathize with Dangote, there's no option bit to increase interest rates above inflation There's simply no alternative to slay inflation. All the curses being poured on Tinubus head would simmer once inflation is down. Interest rates won't stay high forever. Once inflation begins to come down, interest rates would begins to slide down as well. 5 Likes 4 Shares |
Mrkindness: 10:01pm On Jul 02, 2024 |
If this message comes from Obi sone children of hate will not let Obi rest.
18 Likes 1 Share |
Oakenshield: 10:02pm On Jul 02, 2024 |
Baterians and economic junk Lagos policies will finally kill Nigeria
9 Likes |
omowolewa: 10:04pm On Jul 02, 2024 |
Correct
1 Like |
Uncletony(m): 10:08pm On Jul 02, 2024 |
Trial and error government!
3 Likes 1 Share |
Confirm4real(m): 10:13pm On Jul 02, 2024 |
Dangote sef dey complain about Nigeria so who kon be me kwanu ![]() Nigeria we hail thee abeg... 2 Likes |
higgs: 10:14pm On Jul 02, 2024 |
This man Dangote is not just rich,he is also very intelligent. The CBN should reduce interest rates to stimulate economic growth and increase employment. I actually believe that inflation in Nigeria today is not caused by excess money supply but by fiscal problems like insecurity etc.Another major cause is the fast depreciating local currency. So raising interest rates so high creates more economic problems without solving the inflation problem.
16 Likes 4 Shares |
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Naira Stable At ₦1550 - ₦1580 In Parallel Market After CBN’s $7.85M Sale To BDCs
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