Chairman and Chief Executive Officer of Dangote Group, ALIKO DANGOTE, has criticised the latest increment of interest rate to almost 30 per cent by the Central Bank of Nigeria (CBN).

At the opening session of a three-day summit Organised by the Manufacturers Association of Nigeria in Abuja, DANGOTE said businesses could not cope with the current rate.

He also called on the government to protect existing businesses in the country, especially manufacturers by providing an enabling environment for them to thrive.

According to him, an import-dependence country is equivalent to poverty importation.

DANGOTE noted that for the government to address the challenges of unemployment, poverty and insecurity, the manufacturing sector must be empowered to function optimally.