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Nairaland Forum / Nairaland / General / Politics / Dollar Will End Up At N500 If... – Aliko Dangote (628 Views)
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Dollar Will End Up At N500 If... – Aliko Dangote by Nobody: 11:04am On Jul 05, 2015 |
In a recent interview with the business tycoon, Aliko Dangote, he revealed the biggest mistake a businessman can make. “The most dangerous thing that could happen to an entrepreneur is for him to go into a business he doesn’t understand. You need to know the A to Z of the business you are doing. “That’s the only way you can succeed. That’s the biggest mistake most people are making. I don’t think that most of the people that have invested in power really understand what it is. It involves three things; generation, transmission and distribution and all the three require heavy investment. There are a lot of issues that we have to resolve and I think with seriousness, we’ll be able to do them.” Dangote said this in an interview with newsmen a few days ago. Dangote discussed the state of the nation while explaining some details in his businesses that are geared towards a better life for Nigerians. He called on Nigerians to invest at home and create jobs. “Five to 10 people can make Nigeria a great economy,” he said. Below is what he said on fuel subsidy, his own words as captured by Onochie Anibeze: “The issue with subsidy is that government needs to block all loopholes. If there’s no subsidy, it will affect our foreign exchange; we’ll end up buying a dollar at N500, because there’s no VAT on petroleum products. That’s why the import of petroleum products is taking about 30% of our foreign reserve. We just need to make sure that there’s no siphoning of money. The refining business requires volume. If you don’t have a massive volume, there’s no way you’ll make money. Most of the refineries in Africa are running at a big loss. It’s not possible for government officials to successfully manage oil businesses. It’s good enough if they remove the subsidy, but you can check with neighbouring countries like Senegal. If a poor person in Senegal can afford to pay subsidy, why can’t a poor person in Nigeria afford to pay. I think there must be something for the masses, which should be in terms of power, social insurance, good education system, good roads etc.” SOURCE: http://www.naij.com/479041-dollar-will-end-up-at-n500-if-aliko-dangote.html
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Re: Dollar Will End Up At N500 If... – Aliko Dangote by JBismarck(m): 11:05am On Jul 05, 2015 |
So? |
Re: Dollar Will End Up At N500 If... – Aliko Dangote by omusiliyu(m): 11:12am On Jul 05, 2015 |
This is what they reffered to as CHANGE. GEJ please come back. |
Re: Dollar Will End Up At N500 If... – Aliko Dangote by importexpert(m): 1:08pm On Jul 05, 2015 |
dangote be patient. baba will restore dollar to 160 1 Like |
Re: Dollar Will End Up At N500 If... – Aliko Dangote by Nobody: 1:16pm On Jul 05, 2015 |
importexpert: No longer $1 = #1 APC = Party built on Lies. |
Re: Dollar Will End Up At N500 If... – Aliko Dangote by Emeskhalifa(m): 1:41pm On Jul 05, 2015 |
Oh-kay |
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