Dangote: Nigeria's economy will recover if war on corruption is sustained

President of Dangote Group, Aliko Dangote, has expressed confidence that Nigeria would weather the oil price crash that has decimated government revenues if it steps up its fight against corruption.

This was made known in a press release made by Dangote at the Financial Times Africa Summit in London, insisting that Nigeria has the potential for growth.

“Nigeria’s GDP won’t stagnate and we will have a short term shock but people should remember the Nigerian economy is resilient and huge,” he said.

Dangote remarked that if the government of President Muhammadu Buhari continued its crackdown on corruption, the near 50 per cent oil price slump in the past year would be mitigated.

“The government has also suffered a lot of leakages; when oil was $100 a barrel we weren’t seeing all that revenue collected. If the government collects all its taxes and duties, I think we will be okay. 

We will not have as much as we had before but it will be okay,” Dangote said.