Dangote warns on dangers of population time bomb

By Richard Mammah |

Africa’s richest man, Aliko Dangote, at the weekend affirmed that Nigeria must change its way of doing business because there were very clear dangers lying ahead if it did not.

The industrialist who was speaking to media executives in Lagos stated that one of the very obvious manifestations of the looming crisis would be felt in the next four and a half years when the nation is expected to cross the very critical 200 million population mark.

‘Do you know what 200 million people really are? Where would we find the resources to feed and take care of them, he queried.

Giving insights into some of the changes that could help in preventing the looming crisis, the president/Chief Executive of the Dangote Group called on Nigerians across all strata to show more concern and understanding with the government and the real needs of the Nigerian people, saying that he had personally reconciled himself to some of the changes that people like him must make.

‘Yes, I will be willing to accommodate a 5 percent increase in the VAT rate for example. This will personally cost me some N30billion naira but the truth is that the government needs more and more resources to deliver value to us. We have crunched the numbers; with an additional 5 percent in VAT proceeds, the nation will be grossing some more N900billion. This will help,’ he stated.

On the vexed issue of oil subsidies, he encouraged Nigerians to look beyond the surface of things, asserting that it indeed had to do with our overall national survival.

‘We are currently spending some 38 percent of our foreign exchange on the importation of petroleum products. Let me confess that I will personally make more money if the subsidy regime stays, but at what cost? Today, many of our states cannot pay salaries to their workers and virtually all of our critical infrastructure is in bad shape so we cannot afford to continue like this.’