Dangote Calls for Increased Consumer Credit to Tackle Corruption

By Obinna Chima

The President of the Dangote Group, Alhaji Aliko Dangote, has described consumer credit as a vital tool for fighting corruption in the country.

To this end, Dangote urged the Central Bank of Nigeria (CBN) and commercial banks in the country to work towards developing consumer credit products so as to encourage low income earners.

He said this at a roundtable session titled, “Going for Growth,” between the Central Bank of Nigeria Governor and private sector operators in Lagos on Saturday.

He further noted that the biggest challenge in the country was implementation.

“How do you have economic growth without power? Without power there can’t be growth. Egypt electricity by 10 gigawatts, which is equivalent to 10,000 megawatts, in 18 months.

“But in Nigeria we have been struggling for 18 years without adding 1,000 megawatts and we have about three times the amount Egypt spent. Why? So, I think we all need to be concerned about that,” Dangote added.

More details later…