{"id":196366,"date":"2024-07-04T09:46:00","date_gmt":"2024-07-04T09:46:00","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/07\/04\/you-are-only-importing-poverty-and-preventing-growth-dangote-criticizes-cbn-for-raising-interest-rate-to-30\/"},"modified":"2024-07-04T09:46:00","modified_gmt":"2024-07-04T09:46:00","slug":"you-are-only-importing-poverty-and-preventing-growth-dangote-criticizes-cbn-for-raising-interest-rate-to-30","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/07\/04\/you-are-only-importing-poverty-and-preventing-growth-dangote-criticizes-cbn-for-raising-interest-rate-to-30\/","title":{"rendered":"You Are Only Importing Poverty And Preventing Growth \u2013 Dangote Criticizes CBN For Raising Interest Rate To 30% \u2013"},"content":{"rendered":"<p><\/p>\n<div>\n<p><strong>Aliko Dangote, Chairman of the Dangote Group, has criticized the Central Bank of Nigeria (CBN) for raising the interest rate to nearly 30 percent.<\/strong><\/p>\n<p>Speaking at the Banquet Hall of the State House in Abuja during the opening session of a three-day summit organized by the Manufacturers Association of Nigeria (MAN) on Tuesday, July 2, Dangote expressed concerns over the impact of the current interest rate regime on job creation and the growth of the manufacturing sector.<\/p>\n<p>The CBN\u2019s latest Monetary Policy Committee (MPC) meeting saw the Monetary Policy Rate (MPR) increase for the third consecutive time, rising from 24.75 percent to 26.25 percent.<\/p>\n<p>\u201cNobody can create jobs with an interest rate of 30%. No growth will happen,\u201d Dangote stated, highlighting the challenges faced by manufacturers in competing and expanding under such conditions. He also called for new policies to protect domestic industries and urged the government to provide an enabling environment for existing businesses, particularly manufacturers, to thrive.<\/p>\n<p>He added;<\/p>\n<p>\u201cWe must look to leading countries in the West and the East who are actively protecting their domestic industries. Import dependence is equivalent to importing poverty and exporting jobs. No power, no growth, no prosperity. Similarly, no affordable financing, no growth, no prosperity. There is no industrialization without protection Ignoring these facts, is what gives rise to insecurity, banditry, kidnapping and abject poverty.\u201d<\/p>\n<p><!-- CONTENT END 1 --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Aliko Dangote, Chairman of the Dangote Group, has criticized the Central Bank of Nigeria (CBN) for raising the interest rate to nearly 30 percent. Speaking at the Banquet Hall of the State House in Abuja during the opening session of a three-day summit organized by the Manufacturers Association of Nigeria (MAN) on Tuesday, July 2, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":137145,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-196366","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>You Are Only Importing Poverty And Preventing Growth \u2013 Dangote Criticizes CBN For Raising Interest Rate To 30% \u2013 - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/07\/04\/you-are-only-importing-poverty-and-preventing-growth-dangote-criticizes-cbn-for-raising-interest-rate-to-30\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"You Are Only Importing Poverty And Preventing Growth \u2013 Dangote Criticizes CBN For Raising Interest Rate To 30% \u2013 - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Aliko Dangote, Chairman of the Dangote Group, has criticized the Central Bank of Nigeria (CBN) for raising the interest rate to nearly 30 percent. Speaking at the Banquet Hall of the State House in Abuja during the opening session of a three-day summit organized by the Manufacturers Association of Nigeria (MAN) on Tuesday, July 2, [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ghanamma.com\/2024\/07\/04\/you-are-only-importing-poverty-and-preventing-growth-dangote-criticizes-cbn-for-raising-interest-rate-to-30\/\" \/>\n<meta property=\"og:site_name\" content=\"Ghanamma.com\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-04T09:46:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.ghanamma.com\/2024\/wp-content\/uploads\/2024\/01\/Dangote.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"387\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ghana News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ghana News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/07\\\/04\\\/you-are-only-importing-poverty-and-preventing-growth-dangote-criticizes-cbn-for-raising-interest-rate-to-30\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/07\\\/04\\\/you-are-only-importing-poverty-and-preventing-growth-dangote-criticizes-cbn-for-raising-interest-rate-to-30\\\/\"},\"author\":{\"name\":\"Ghana News\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#\\\/schema\\\/person\\\/c70749f3edfbfcd92d45e933f0fe10b5\"},\"headline\":\"You Are Only Importing Poverty And Preventing Growth \u2013 Dangote Criticizes CBN For Raising Interest Rate To 30% \u2013\",\"datePublished\":\"2024-07-04T09:46:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/07\\\/04\\\/you-are-only-importing-poverty-and-preventing-growth-dangote-criticizes-cbn-for-raising-interest-rate-to-30\\\/\"},\"wordCount\":236,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/07\\\/04\\\/you-are-only-importing-poverty-and-preventing-growth-dangote-criticizes-cbn-for-raising-interest-rate-to-30\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/Dangote.jpg\",\"articleSection\":[\"Business\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/07\\\/04\\\/you-are-only-importing-poverty-and-preventing-growth-dangote-criticizes-cbn-for-raising-interest-rate-to-30\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/07\\\/04\\\/you-are-only-importing-poverty-and-preventing-growth-dangote-criticizes-cbn-for-raising-interest-rate-to-30\\\/\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/07\\\/04\\\/you-are-only-importing-poverty-and-preventing-growth-dangote-criticizes-cbn-for-raising-interest-rate-to-30\\\/\",\"name\":\"You Are Only Importing Poverty And Preventing Growth \u2013 Dangote Criticizes CBN For Raising Interest Rate To 30% \u2013 - Ghanamma.com\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/07\\\/04\\\/you-are-only-importing-poverty-and-preventing-growth-dangote-criticizes-cbn-for-raising-interest-rate-to-30\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/07\\\/04\\\/you-are-only-importing-poverty-and-preventing-growth-dangote-criticizes-cbn-for-raising-interest-rate-to-30\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/Dangote.jpg\",\"datePublished\":\"2024-07-04T09:46:00+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#\\\/schema\\\/person\\\/c70749f3edfbfcd92d45e933f0fe10b5\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/07\\\/04\\\/you-are-only-importing-poverty-and-preventing-growth-dangote-criticizes-cbn-for-raising-interest-rate-to-30\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/07\\\/04\\\/you-are-only-importing-poverty-and-preventing-growth-dangote-criticizes-cbn-for-raising-interest-rate-to-30\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/07\\\/04\\\/you-are-only-importing-poverty-and-preventing-growth-dangote-criticizes-cbn-for-raising-interest-rate-to-30\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/Dangote.jpg\",\"contentUrl\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/Dangote.jpg\",\"width\":600,\"height\":387},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/07\\\/04\\\/you-are-only-importing-poverty-and-preventing-growth-dangote-criticizes-cbn-for-raising-interest-rate-to-30\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"You Are Only Importing Poverty And Preventing Growth \u2013 Dangote Criticizes CBN For Raising Interest Rate To 30% \u2013\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#website\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/\",\"name\":\"Ghanamma.com\",\"description\":\"Ghana mma provides breaking news, top stories in Ghana, Africa, business, entertainment, politics and more.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/#\\\/schema\\\/person\\\/c70749f3edfbfcd92d45e933f0fe10b5\",\"name\":\"Ghana News\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g\",\"caption\":\"Ghana News\"},\"sameAs\":[\"https:\\\/\\\/www.ghanamma.com\\\/2024\"],\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2024\\\/author\\\/ghanamma\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"You Are Only Importing Poverty And Preventing Growth \u2013 Dangote Criticizes CBN For Raising Interest Rate To 30% \u2013 - Ghanamma.com","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ghanamma.com\/2024\/07\/04\/you-are-only-importing-poverty-and-preventing-growth-dangote-criticizes-cbn-for-raising-interest-rate-to-30\/","og_locale":"en_US","og_type":"article","og_title":"You Are Only Importing Poverty And Preventing Growth \u2013 Dangote Criticizes CBN For Raising Interest Rate To 30% \u2013 - Ghanamma.com","og_description":"Aliko Dangote, Chairman of the Dangote Group, has criticized the Central Bank of Nigeria (CBN) for raising the interest rate to nearly 30 percent. Speaking at the Banquet Hall of the State House in Abuja during the opening session of a three-day summit organized by the Manufacturers Association of Nigeria (MAN) on Tuesday, July 2, [&hellip;]","og_url":"https:\/\/www.ghanamma.com\/2024\/07\/04\/you-are-only-importing-poverty-and-preventing-growth-dangote-criticizes-cbn-for-raising-interest-rate-to-30\/","og_site_name":"Ghanamma.com","article_published_time":"2024-07-04T09:46:00+00:00","og_image":[{"width":600,"height":387,"url":"https:\/\/www.ghanamma.com\/2024\/wp-content\/uploads\/2024\/01\/Dangote.jpg","type":"image\/jpeg"}],"author":"Ghana News","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Ghana News","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.ghanamma.com\/2024\/07\/04\/you-are-only-importing-poverty-and-preventing-growth-dangote-criticizes-cbn-for-raising-interest-rate-to-30\/#article","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2024\/07\/04\/you-are-only-importing-poverty-and-preventing-growth-dangote-criticizes-cbn-for-raising-interest-rate-to-30\/"},"author":{"name":"Ghana News","@id":"https:\/\/www.ghanamma.com\/2024\/#\/schema\/person\/c70749f3edfbfcd92d45e933f0fe10b5"},"headline":"You Are Only Importing Poverty And Preventing Growth \u2013 Dangote Criticizes CBN For Raising Interest Rate To 30% \u2013","datePublished":"2024-07-04T09:46:00+00:00","mainEntityOfPage":{"@id":"https:\/\/www.ghanamma.com\/2024\/07\/04\/you-are-only-importing-poverty-and-preventing-growth-dangote-criticizes-cbn-for-raising-interest-rate-to-30\/"},"wordCount":236,"commentCount":0,"image":{"@id":"https:\/\/www.ghanamma.com\/2024\/07\/04\/you-are-only-importing-poverty-and-preventing-growth-dangote-criticizes-cbn-for-raising-interest-rate-to-30\/#primaryimage"},"thumbnailUrl":"https:\/\/www.ghanamma.com\/2024\/wp-content\/uploads\/2024\/01\/Dangote.jpg","articleSection":["Business"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.ghanamma.com\/2024\/07\/04\/you-are-only-importing-poverty-and-preventing-growth-dangote-criticizes-cbn-for-raising-interest-rate-to-30\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.ghanamma.com\/2024\/07\/04\/you-are-only-importing-poverty-and-preventing-growth-dangote-criticizes-cbn-for-raising-interest-rate-to-30\/","url":"https:\/\/www.ghanamma.com\/2024\/07\/04\/you-are-only-importing-poverty-and-preventing-growth-dangote-criticizes-cbn-for-raising-interest-rate-to-30\/","name":"You Are Only Importing Poverty And Preventing Growth \u2013 Dangote Criticizes CBN For Raising Interest Rate To 30% \u2013 - Ghanamma.com","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2024\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.ghanamma.com\/2024\/07\/04\/you-are-only-importing-poverty-and-preventing-growth-dangote-criticizes-cbn-for-raising-interest-rate-to-30\/#primaryimage"},"image":{"@id":"https:\/\/www.ghanamma.com\/2024\/07\/04\/you-are-only-importing-poverty-and-preventing-growth-dangote-criticizes-cbn-for-raising-interest-rate-to-30\/#primaryimage"},"thumbnailUrl":"https:\/\/www.ghanamma.com\/2024\/wp-content\/uploads\/2024\/01\/Dangote.jpg","datePublished":"2024-07-04T09:46:00+00:00","author":{"@id":"https:\/\/www.ghanamma.com\/2024\/#\/schema\/person\/c70749f3edfbfcd92d45e933f0fe10b5"},"breadcrumb":{"@id":"https:\/\/www.ghanamma.com\/2024\/07\/04\/you-are-only-importing-poverty-and-preventing-growth-dangote-criticizes-cbn-for-raising-interest-rate-to-30\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.ghanamma.com\/2024\/07\/04\/you-are-only-importing-poverty-and-preventing-growth-dangote-criticizes-cbn-for-raising-interest-rate-to-30\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ghanamma.com\/2024\/07\/04\/you-are-only-importing-poverty-and-preventing-growth-dangote-criticizes-cbn-for-raising-interest-rate-to-30\/#primaryimage","url":"https:\/\/www.ghanamma.com\/2024\/wp-content\/uploads\/2024\/01\/Dangote.jpg","contentUrl":"https:\/\/www.ghanamma.com\/2024\/wp-content\/uploads\/2024\/01\/Dangote.jpg","width":600,"height":387},{"@type":"BreadcrumbList","@id":"https:\/\/www.ghanamma.com\/2024\/07\/04\/you-are-only-importing-poverty-and-preventing-growth-dangote-criticizes-cbn-for-raising-interest-rate-to-30\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.ghanamma.com\/2024\/"},{"@type":"ListItem","position":2,"name":"You Are Only Importing Poverty And Preventing Growth \u2013 Dangote Criticizes CBN For Raising Interest Rate To 30% \u2013"}]},{"@type":"WebSite","@id":"https:\/\/www.ghanamma.com\/2024\/#website","url":"https:\/\/www.ghanamma.com\/2024\/","name":"Ghanamma.com","description":"Ghana mma provides breaking news, top stories in Ghana, Africa, business, entertainment, politics and more.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.ghanamma.com\/2024\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.ghanamma.com\/2024\/#\/schema\/person\/c70749f3edfbfcd92d45e933f0fe10b5","name":"Ghana News","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/22cb97c2b08df229330efb2b8c2645feaae8d3ca3ee434035fbb668b5b82f570?s=96&d=mm&r=g","caption":"Ghana News"},"sameAs":["https:\/\/www.ghanamma.com\/2024"],"url":"https:\/\/www.ghanamma.com\/2024\/author\/ghanamma\/"}]}},"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/posts\/196366","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/comments?post=196366"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/posts\/196366\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/media\/137145"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/media?parent=196366"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/categories?post=196366"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2024\/wp-json\/wp\/v2\/tags?post=196366"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}