Stella Dimoko Korkus.com: Dangote Advises Buhari To ''Sell off NLNG,Invest Proceed And We’ll Be Out Of Recession...'O

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Sunday, September 18, 2016

Dangote Advises Buhari To ''Sell off NLNG,Invest Proceed And We’ll Be Out Of Recession...'O

Nigeria and African richest business mogul, Aliko Dangote has urged the federal government to sell off the Nigerian Liquified Natural Gas company, NLNG as well as other dormant but huge capital-generating sectors and invest the proceeds back into the economy to bring Nigeria out of its current recession before the end of fourt quarter. 



In an interview with CNBC Africa, the billionaire said: “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.

“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 organisation. “What we need to do now in my own thinking… we have a lot of assets to sell. 

We can sell part of the joint venture; part of the shares. You know government normally owns 60 percent. “We can sell in an open tender be it Chinese. We can change the term and make it an operating one, just like what we have in NLNG. 

We also have another asset I think we don’t really need. “The African finance corporation; it can fetch them $800million easily. My own suggestion before was that they should even sell 100 percent of NLNG. I don’t think government should be in any business of investing in sectors of LNG. “A company like that, with earnings of $1.5 billion on the average, they should get anywhere between $12 billion and $15 billion.” 

Dangote suggested investing the proceeds back into the economy to boost development. “You will not believe that the crisis that we have today, if we have $15 billion, adding it to our $25 billion, that is $40 billion reserves. That will give confidence, confidence will come back, then government will back it up with proper economic policy, where people can see the roadmap. 

“Latest by fourth quarter we will be out of recession. It should be a partnership between government and private sector. We have all the answers, Nigeria falling into recession does not really scare me, if we take action. 

The businessman said if the government boosts reserves as suggested, the naira may fall to 250 to the dollar and help the economy. “Once we can sell assets, and put $15 billion together, you’d be very shocked at how much the dollar will actually drop, you can easily see 250. 

What is happening today is mere speculation. “To currency, everybody will speculate, banks will speculate, companies will speculate, individuals will speculate, because if you have money you want to send in from abroad you will keep sending in trickles.

“If you know that CBN has $40 billion in reserves today, if you have $100,000, you might even sell it forward because you know that this rate is going to crash and you must quickly sell it.”



culled: Vanguard



58 comments:

  1. Replies
    1. The Govt should cut money spent on all govt officials, senators, house of reps members, ministers, assistants, assistant to the assistant, assistant to the assistant's assistant........first, that's a good place to start!



      It costs too much keeping these over pampered rouges and their lazy cat lifestyle



      Wetin dem dey do sef, beyond sleeping with everything that has a hole at night and going to The house to sleep during sessions?



      Greedy mofos!




      SHARONNA

      Delete
    2. Alas, the Notherners want to buy off Nigeria little by little. Dangote wants to buy NLNG. Chei, Lord hav mercy

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    3. Dangote is a thief..... He wants to buy NLG
      What a stupid thing to say....y not sell Nigeria

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    4. This people want buy Nigeria with our oyel money oh, avengers una don see so. Hmmmmmmmmmmmmmmmm

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  2. so this dangote is. planning to buy nlng?if not which kind advice b dis?let him not try it niger deltans won't evn agree

    ReplyDelete
    Replies
    1. Selling NLNG is not the problem. The problem is that Ajala left the biggest economy in Africa unattended for over six long months. The damage is done and it's gonna be a long bumpy ride to recovery. Tighten ur seat belts.

      Delete
    2. I wonder how people think at times

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    3. Dangote is all shades of selfish!

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  3. Abeg! They should wait for me to change some of my $$$ before rates drop to N250/$

    ReplyDelete
    Replies
    1. And what will happen to the employees

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  4. okay seen...



    Veckydiva was here

    ReplyDelete
  5. Sos he can buy it abi. Fa fa fa, foul.

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  6. Let government sell so that he'll go and buy it. This man get sense.

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  7. He should sell it? Hahahahahaa, business man, clap for yourself, smart alec. Proceed from phcn no dey?

    ReplyDelete
  8. so that he can buy it and monopolize it for his refinery.... No way he should sell off his assets first.....nonsense

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  9. This man should take a sit somewhere. What does he know about building the economy of a nation. He wants to buy NLNG and add to his assets as if owning an oil rig is not enough. The federal government should dispose of all individuals their oil wells and control it federally with the help of the states that own it. My2cents

    ReplyDelete
    Replies
    1. Those of us saying they shouldn't sell,is the NLNG even functioning?

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    2. Did u just ask is NLNG even functioning????😳
      OMG!!!!!

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    3. Why not research if NLNG is still functioning before posting your yeye qtn?

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  10. Hnmmm business man. The problem is not selling it and using the proceeds from the sale to help the economy but the issue is it may still be stolen,embezzled, stashed somewhere by some greedy lots. Such rotten characters we have in the economy. God help us.

    ReplyDelete
    Replies
    1. Don't mind Dangote. He wants to buy NLNG and AFC. Selfish man.

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  11. Stupid advise. Sell it so that you can borrow money from banks and buy and own a huge percent abi?
    Gerrahia!

    ReplyDelete
  12. They shouldnt sell anything cos this people dnt know how to invest.

    ReplyDelete
  13. And who will buy the NLNG?
    Just an innocent question....

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  14. Will the president listen to any advice. The man doesn't even listen to anyone from any one but then old men are like that. Recession can be a thing of the last if they first if all stop blaming the previous government and get to work and in no time we will be out. But when you sit and all you do is blame, blame, blame we will get no where

    Sell all the sellable and invest it back into the economy. It willwill open doors to foreign investment. And the economy will be right back again without waiting for petrol to come up to 140 per barrel..

    ReplyDelete
    Replies
    1. The same way they sold NEPA and still no improvement

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  15. He doesn't listen to any advice cus his ear is still under construction. Let him come back from obodo oyibo after putting on that headset, I think e might hear 1 or 2 for a while before e runs deaf again.

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  16. They can as well sale the country...

    ReplyDelete
  17. Bia this man if na joke stop am o!
    As in stop am right now!!!!
    Ah! See as my heart just dey bear anyhow!
    Just stop!!!!!

    ReplyDelete
  18. Dangote is right,he is got a point in what he has said. I will say not for his selfish reasons but for the betterment of the country. Think about it but the problem will our president ever listens to advice, that's just the problem. God help my father's land.

    ReplyDelete
    Replies
    1. Wetin u dey talk?think before you talk.eg a landlord owns a house that gives him 5mil a year from tenants as his source of income and then he experiences hard ship and sells the house!when the money finish to solve the problem where then will he survive for 5/6 years to come???dangote is silly for that comment asif owning oil blocks aint enuf he wants them to sell so he can cum buy.na ppl like u go dey and them go sell Nigeria for ur korokoro eye.

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    2. Dangote is all shades of selfish!

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    3. Who no dey selfish? If i hear

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  19. As the business man that you is nau . *in sister nkechi voice*.

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  20. Dangote just say 'I want to buy NLNG'we will understand.

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  21. I hope we get out of this recession soonest, one way or the other.

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  22. I can't believe people are so dense,what rubish point is he making? Do you know how much the govt generate every month thru TSA? at least I know my organisation generates like 80billion naira a month. This is the most irresponsible govt I know trying to incapacitate the south and weild more power for the north so that can islamise the country. That's how Dangote kicked Ibeto out of the cement industry so he can monopolize the industry. The hand writting on the wall is glaring. And pastors are busy looking for members and followership instead of praying for this nation and chtistains undergoing persecution. This is ranting. I dont even knoe wether I'm making sence.

    ReplyDelete
    Replies
    1. Anonymous you're just a born bastard incapable of independent thought I'm sure you're one of those people who say buhari has not done anything in two years, we'll if naija has not been islamised in 2 years then when will that happen.

      What persecution are you undergoing? Politicians will steal and raise one tribalistic comment to divert your attention from their actions and like the goat that you are, you just eat it all up.

      Eat a dick

      Delete
  23. Mr Borrow borrow. He wants to borrow money from the banks again and buy it. Selfish man. He wants to monopolize the Nigerian economy

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  24. I don't agree with him totally. To sell some dormant assets is a good one but the proceeds will equally be embezzled and the purpose of selling the assets will be long defeated then Nigeria will be back to status quo. Obviously, he has interest in buying off NLNG but trust me your wish will never be granted.

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  25. Dangote is right about government not being involved in business, but I fear dangote may want to buy everything in this country. We may suffer from dangoterism in the future whether we like it or not

    ReplyDelete
  26. Thunder fire u Dangote. Why sell your north development. Idiot hausa fulani people. Thunder fire u

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  27. He is advising government to sell so he will buy it abi. Since when did Dangote have the interest of the government for him to profer solution that will benefit him?

    ReplyDelete
  28. He wants to cripple the south and move everything to the north.

    ReplyDelete

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