Dangote said this on Tuesday while speaking at the launch of the Nigeria Industrial Policy in Abuja.
While the naira goes for around ₦1,300 to a dollar, Dangote says the reforms by the government mean better days are ahead.
“I mean, today, if you look at it, Your Excellency, I believe with the policies that you have implemented in government, people now have started seeing the result, and manufacturers are very, very happy,” he said at the event attended by Vice President Kashim Shettima and other dignitaries.
Today, the dollar is N1,340. Mr. Vice-President, I can assure you that, with what I know, by blocking all this importation, the currency this year will be as low as N1,100 if we are lucky. The only thing is for, maybe, the government to stop the naira from getting stronger so that they will keep collecting more naira.
But it’s a catch-22 situation where, now, if the naira gets stronger, it means that everything will go down. Everything will go down because we are an import-based country, which we shouldn’t be. What we should be doing is manufacturing all the things that we need.”
