Tinubu Reacts As Dangote Crashes Price Of Diesel

Tinubu Reacts As Dangote Crashes Price Of Diesel

President Bola Tinubu has lauded Dangote Petroleum Refinery for its decision to lower diesel prices, reducing them from N1,200 to N1,000 per liter. This move comes on the heels of a recent price adjustment three weeks ago, wherein the refinery initially decreased diesel prices by over 30%, dropping them from N1,600 to N1,200 per liter.

This decision, described by the refinery as a strategic move, is expected to have a positive impact on various sectors of the economy and ultimately contribute to lowering the country’s high inflation rate.

In a statement conveyed through his Special Adviser, Ajuri Ngelale, Tinubu praised the Dangote Group for the new diesel price at the pump. He urged Nigerians and businesses to prioritize the nation’s interests, assuring them of a conducive, safe, and secure environment to thrive.

The statement read, “President Bola Tinubu commends the commendable initiative of Dangote Oil and Gas Limited in reducing the pump price of Automotive Gas Oil (AGO), also known as diesel.

“The Group recently revised the pump price of AGO from N1,650 to N1,000 per liter for purchases of a minimum of one million liters, with a further discount of N30 per liter for purchases of five million liters and above.

“This price adjustment represents a significant 60 percent decrease, which is expected to have a considerable impact on the prices of various goods and services.

“The President emphasizes that Nigerians and domestic businesses are crucial drivers towards the nation’s economic prosperity, highlighting the federal government’s 20 percent stake in Dangote Refinery and underscoring the importance of such partnerships between public and private entities in advancing the overall well-being of the country.

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