Why Dangote Wants Oil Prices To Remain Low
Is Nigerian business mogul, Aliko Dangote a hero or a villain by advocating for a low oil prices?
It depends on who you are.
If you are politician or government worker, you may not like his idea about oil price.
Even though low oil prices plunged Nigeria into recession, Africa’s richest man wants it to remain down.
Most people, specially politicians would consider this strange.
But why would Dangote wish for this?
The business mogul believes that if oil prices remain low, Nigeria will be forced to gain its independence from the black gold.
He said agriculture should be the focus of government, as well as gas and minerals, in an effort to diversify the economy, even as he told a packed room in New York that he is hoping that oil prices will remain low to wean Nigeria away from its dependence.
“Agriculture, agriculture, agriculture. Africa will become the food basket of the world,” he said.
“We should pray that oil prices remain low. This helps wean us off the dependency on revenues from petroleum. We must take oil to be the icing on the cake. We already have the cake,” Dangote said, referring to Nigeria's economy.
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