Nigeria can overcome its current economic recession if it is able to come up with $15 billion according to the country’s richest man Aliko Dangote. He said the country can raise the sum through sale of assets and borrowing. These, according to him, could revive the country’s economy; it would also boost the country’s foreign reserves.
“Through sales of assets, through loans from Bank of China or wherever, we need something like $15 billion. We’re having a problem as the reserves are low. The banks, entrepreneurs, everybody is speculating on the currency,” he said in New York.
2016 has not been the best of years for Nigeria’s economy. According to the International Monetary Fund (IMF), which Nigeria is expected to record a 1.8 percent contraction in investments; this is further complicated by fall in oil prices and the dwindling fortune of the naira.
“President Buhari is doing a great job in terms of fighting corruption, corruption has gone down dramatically,” he said.
