Dangote also stated that it was unavoidable for the National Assembly to pass legislation that would penalize the sale of prohibited textiles by imprisoning offenders without the option of a fine, according to The Punch.
This was stated by Nigeria’s and Africa’s richest man during his lecture titled ‘Agenda Setting for Industrialising Nigeria in the Next Decade’ at the 50th Annual General Meeting of the Manufacturers Association of Nigeria.
Dangote stated that in order for the local textile industry to grow, laws must be enforced that not only discourage but also completely prohibit the importation of foreign materials, adding that a prosperous economy would lead to a reduction in insecurity.
Dangote word: “For the textile industry, I believe the government should draft legislation in the National Assembly that states that anyone selling prohibited foreign textiles must face prison time without the option of a fine. So it’ll just be going to jail, even if it’s only for two years.
“The real issue in the textile industry is not a lack of less expensive power. The textile will not last if you give them cheaper power but allow the smuggling to continue.
“What is happening is that foreign companies are dumping their products in Nigeria. That is why I dislike importing. When you import, you are importing poverty while exporting prosperity and job opportunities.
“Today people would be sent to jail in India for selling foreign textiles anywhere. Also, if something is banned in the United States of America for example, there is no way it could be displayed for sale in a shop.
“But what is stopping the implementation of Nigeria’s government policies is the absence of the political will to make sure that we implement those policies no matter who is going to be upset by us.
“If we have a prosperous environment the insecurity will drop.”
