Dangote, Onyema responsible for recovering economy - Agbakoba

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The economy is showing signs of recovery, with the efforts of Aliko Dangote and Allen Onyema being credited. Dangote Refinery commencing sales of diesel and Air Peace flying to the UK have positively impacted the forex market and strengthened the Naira against the dollar. Olisa Agbakoba, a former chairman of the Nigerian Bar Association, suggests that if this trend continues, much-needed relief for Nigerians will occur. He also emphasizes the need to put the private sector at the center of economic development and advises the government to withdraw from business. The economy has faced challenges, including high inflation, food inflation, depreciation of the Naira, removal of fuel subsidies, and job losses. However, the Dangote Refinery's diesel sales have significantly increased supply and lowered prices, with plans to sell Premium Motor Spirit (PMS) in the future. Air Peace's flights to the UK have also led to a drop in ticket prices. The forex market has reacted positively, and experts predict a potential fall in the price of the dollar. Agbakoba highlights the importance of private sector involvement and the transition from consumption to production for economic growth.

#Nigeria #Economy #Recovery #AlikoDangote #AllenOnyema

https://dailypost.ng/2024/04/05/dangote-onyema-responsible-for-recovering-economy-agbakoba/