Aliko Dangote, Africa’s richest man, has expressed his support for Kemi Adeosun’s position against Nigeria obtaining a loan from the International Monetary Fund (IMF).
Speaking at the IMF spring meeting in April 2016, Adeosun had described Nigeria as a resilient country with strong fundamentals to get through tough times with an IMF loan.
Speaking with CNBC Africa on Friday, Dangote endorsed the plan not to go on with an IMF loan, and called for revenue mobilisation via other means.
“The only way for us to get out of this recession is to make sure we move into action quickly; action by diversifying the economy quickly,” Dangote said.
“I think the real challenge is now for us to have the political will in terms of selling some assets. I think it is an easier route than going to IMF or World Bank to borrow, because what we need to do is to beef up reserves.
“If I had challenges in my company, I would not hesitate to sell assets, to remain afloat, to get to the better times, because it doesn’t make any sense for me to keep any assets and then suffocate the whole organization.”