- Safiu Kehinde
Nigerian billionaire businessman, Aliko Dangote, has called for the blockade of all importations while increasing investment in local industries to strengthen Naira value.
Dangote made the call during his speech at the official launch of the Nigeria Industrial Policy.
Addressing Vice President Kashim Shettima who represented President Bola Tinubu at the event, Dangote lauded the Federal Government for its fiscal policies which according to him currently sees Naira stand at N1,340 per one Dollar.
The Africa’s richest man however harped on the need to promote local manufacturing and block all importations.
This, according to him, will see Naira stand at N1,100 against the Dollar by the end of the year 2026.
“Today, if you look at it your Excellency, I believe that with the policies you have done in government, people have started seeing the results.
“Today, Dollar is N1,340. Mr. Vice President, I can assure you will what I know, blocking all these importations and co, Naira at this year will be as low as N1,100 if we are lucky.” He said.
Dangote further noted that strengthening the Naira would see the value of imported goods drop drastically.
“But the only thing is for maybe the government to stop the Naira from getting stronger so that that they will keep collecting Naira.
“If the Naira gets stronger, it means that everything will go down because we are an import-based country which we shouldn’t be.” He added.