President Bola Tinubu praised Dangote Oil and Gas Limited for reducing the price of Automotive Gas Oil (diesel) from N1,650 to N1,000 per litre, describing the move as an “enterprising feat” that will significantly impact the prices of goods and services.
The Dangote Group lowered the price of diesel for a minimum purchase of one million liters, offering a discount of N30 per liter for purchases of five million liters or more.
In a statement by his Special Adviser on Media and Publicity, Ajuri Ngelale, Tinubu emphasized the importance of Nigerians and domestic businesses in driving economic prosperity and called for prioritizing the nation at this time.
Tinubu acknowledged the Federal Government’s 20% stake in Dangote Refinery and emphasized the significance of public-private partnerships for the country’s well-being.
The announcement follows Dangote’s recent meeting with President Tinubu in Lagos, where Dangote predicted a drop in inflation due to the reduction in diesel pump prices. Dangote’s refinery has been selling diesel at around N1,200 per liter, down from the previous price of N1,650-N1,700.
Dangote expressed optimism about Nigeria’s economic improvement, citing the recent rise in the value of the naira and its positive impact on the prices of locally produced goods. He also noted that the lower cost of diesel would reduce inflation in the coming months.
Dangote urged business leaders to collaborate with the government to improve the lives of citizens and emphasized the need for both entrepreneurs and the government to work together for the common good.
