Aliko Dangote has reacted to media reports that South Africa has overtaken Nigeria as Africa’s biggest economy – Insists Nigeria remains the number one economy in Africa – Vice President Yemi Osinbajo reveals economic agenda of the government in bid to stabilize the economy
Africa’s richest man, Aliko Dangote, has dismissed media reports that South Africa had overtaken Nigeria as Africa’s biggest economy.
The report which downgraded Nigeria’s economy below that of South Africa, stated that the change in status of both countries was attributed to the appreciation of the rand, South Africa’s currency, and the devaluation of the Nigerian naira. The report added that the rand has gained more than 16 per cent against the US currency since the start of 2016; while in contrast, Nigeria’s naira has lost more than a third of its value.
But the president of the Dangote Group, insists that Nigeria remains the number one economy in Africa.
According to Daily Post, Dangote who spoke at the Lagos Chamber of Commerce and Industry 2016 presidential policy dialogue session on Thursday, August 11, argued that the problem with the economy did not start with the present administration.
He said Nigeria’s place in the African economy had not yet been overtaken. In a related development, Vice President Yemi Osinbajo has revealed the economic agenda of the government in the bid to stabilize the tottering economy even as the harsh conditions bite harder. Speaking at the 2016 presidential policy dialogue session which was organised by the Lagos Chamber of Commerce and Industry (LCCI) in Lagos on Thursday, Osinbajo said the government will release N100 billion in the next few days to increase money in circulation.
Meanwhile, Jones Erue, the Delta state chairman of the All Progressives Congress (APC) has attacked Kingsley Esiso the state Peoples Democratic Party (PDP) chairman, for attributing the current economic challenges trailing the country to the APC, Vanguard reports. Erue who was represented by the deputy chairman of the party, Cyril Ogodo, at an APC ward executive meeting convened by a former House of Representative member, Hon Solomon Edoja at Kokori, Delta state, on Thursday, August 11 explained that it is totally wrong for anyone to make such utterances against the APC.
Source Naij.com