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Nigeria needs more Dangotes: CBN Governor •Urges youths to emulate his entrepreneurial spirit

By News Express on 04/07/2016

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Central Bank Governor, Godwin Emefele, has enjoined Nigerian youths to emulate the entrepreneurial spirit of Nigeria’s foremost industrialist, Alhaji Aliko Dangote, saying that the country needs more of him.

He said that the Federal Government appreciates Dangote’s exceptional business investments dotting the entire African continent and exemplary humanitarian efforts. The apex bank boss noted that the government would continue to provide the enabling environment that will give room for the emergence of more Dangotes

Emefiele spoke during the disbursement of funds to selected qualified youths to mark the commencement of CBN’s Youth Entrepreneurship Development Programme (YEDP).

The programme was instituted to promote capacity building and funding for Nigerian youths to empower them to be entrepreneurs rather than seeking white collar jobs.

The CBN Governor acknowledged the role Dangote and his many companies have been playing in the employment of labour in Nigeria and Africa as whole. He urged the youths to equally seek to fulfil their dreams and not just become entrepreneurs, but also employers of labour.

Emefiele lamented that Nigeria spends millions of dollars on importation of foods and other needless items. He pointed out that the developed countries of the world are strong economically because they produce and export more than they import thus giving them the desired trade balance.

The CBN Governor said this is also the thought line of the Muhammadu Buhari administration, which is bent on pursuing the task of industrialising Nigeria through the exploitation of the nation’s vast mineral resources which have long been neglected.

He told the beneficiaries that the youth entrepreneurs are part of the CBN programme of creating a million jobs in the next four years.

Said Emefiele: “Youth entrepreneurs have been hindered in the past by lack of capacity and access to funding.

“It is thus a matter of urgency to roll out the YEDP. Our youths are full of ideas and we want to empower them to make the dreams realities. We want to nurture your dreams, not only to be entrepreneurs but also to become employers of labour.

“We want to raise many Dangotes from among our youth entrepreneurs. We want our youths to build conglomerates and giant companies that can employ millions of Nigerians and produce goods for nor only local consumption but also for export.”

News Express recalls that Dangote recently indicated that his new $12 billion three-in-one refinery, petrochemical and fertiliser plants currently under construction in Lagos would create a minimum of 235,000 new jobs, directly and indirectly, as they become operational in the first quarter of 2019.

Dangote said the refinery would have a capacity to refine 650,000 barrels of crude oil a day, while the Petrochemical Plant will produce 750,000 metric tonnes per year (MTPY) of Polypropylene, and the Fertiliser Plant will produce 2.8 million metric tonnes per annum (mmtpa) of Urea and Ammonia

Dangote said gas from the Gas Pipeline Project can supply fuel to Central Power Plants to generate electricity for households and Nigeria will save over $7.5 billion for Nigeria annually through import substitution. 

•Photo shows CBN Governor Emefele.

Source News Express

Posted 04/07/2016 1:01:07 PM

 

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