NewsWatch.com.ng journalist Ridwan Adeola Yusuf has over 9 years of expertise protecting public journalism and governance.
FCT, Abuja – Peter Obi, the presidential candidate of the Labour Party (LP) within the 2023 election, has mentioned Aliko Dangote’s current outcry towards the present rate of interest of 30% underscores his earlier stance financial coverage of the Bola Tinubu administration.
Dangote had criticised Nigeria’s {economic} drivers’ determination to lift rates of interest to just about 30%.
The foremost entrepreneur additionally advocated for insurance policies that safeguard home industries and domesticate them into indigenous champions able to producing jobs within the face of present international {economic} woes.
In a press release he personally signed on Thursday, July 4, the presidential hopeful recalled that earlier in 2024, he spoke towards the choice of the financial coverage committee to peg the financial coverage charge (MPR) at 22.5% and up the money reserve ratio (CRR) to 45%.
Obi mentioned he had warned that this might additional worsen the {economic} scenario in Nigeria.
In keeping with the previous Anambra state governor, the coverage instruments by the Central Bank of Nigeria (CBN) would push rates of interest on loans to above 30%, “which might be very troublesome for producers and MSMES to borrow and repay”.
He mentioned:
Earlier, NewsWatch.com.ng reported that Obi defined why he attended the commissioning of Dangote Refinery within the Lekki free commerce cone space of Lagos state.
Obi mentioned he attended the occasion as a result of he has constantly known as for larger private-sector participation in Nigeria’s financial system.
Proofreading by James Ojo Adakole, journalist and replica editor at NewsWatch.com.ng.
Supply: NewsWatch.com.ng
