The President/Chief Executive Officer of Dangote Group, Aliko Dangote, has commended President Bola Tinubu for initiating economic reforms that he described as bold, transformative, and capable of restoring investor confidence in Nigeria.
Dangote made the remarks at the weekend during a visit by the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, to the $20bn Dangote Petroleum Refinery & Petrochemicals and Dangote Fertiliser Limited, located in Ibeju-Lekki, Lagos.
He specifically praised the Federal Government’s recent efforts at addressing crude oil supply challenges facing domestic refineries.
According to him, the Naira-for-Crude initiative and the Nigeria First policy introduced under the Tinubu administration are commendable and could significantly fast-track Nigeria’s economic recovery.
“I believe we must sincerely thank His Excellency, President Bola Ahmed Tinubu, for ensuring that there have been improvements in the supply of crude oil. His insistence that all crude oil transactions be conducted in naira has been particularly commendable,” Dangote said.
He stressed the importance of pricing and purchasing crude oil in the local currency to enable domestic refineries meet market demand efficiently.
“For us to effectively meet market demand—which we have the capacity to do—it is essential that crude is priced and purchased in our local currency,” he added.
The business mogul further described Tinubu as “a listening president” whose economic policies are already yielding positive results in the private sector.
The Dangote Refinery, which began operations recently, is one of the largest single-train refineries in the world and is expected to play a key role in meeting local fuel demands and reducing Nigeria’s dependence on imported petroleum products.
