Founder of the Dangote Group, Dangote
Alhaji Aliko Dangote, has praised President Bola Tinubu as a listening president whose policies are restoring investor confidence in Nigeria’s economy.
Alhaji Dangote made the remarks during a visit by the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, to the $20 billion Dangote Petroleum Refinery & Petrochemicals and Dangote Fertiliser Limited in Ibeju-Lekki, Lagos.
Dangote commended President Tinubu’s efforts to address crude supply challenges to domestic refineries, particularly the Naira-for-Crude initiative and the Nigeria First policy, describing them as bold and transformative steps capable of revitalizing the economy.
He noted that these initiatives have brought a measure of stability to the naira-to-dollar exchange rate, expressing optimism that the naira would continue to strengthen in the coming weeks as the effects of the reforms become more visible.
According to Dangote, the improved market predictability has helped investors make sound business decisions and restored confidence in the investment climate.
Dangote commended the federal government for establishing a One-Stop Shop (OSS) initiative to improve coordination among regulatory and security agencies, facilitating smoother operations under the Naira-for-Crude programme.
He emphasised that the OSS has significantly reduced bottlenecks and allowed for real-time resolution of issues, in line with President Tinubu’s directive.
The Dangote Refinery is set to launch a new initiative involving the deployment of 4,000 Compressed Natural Gas (CNG) tankers to distribute petroleum products more efficiently and in an environmentally friendly manner.
This move is expected to reduce logistics costs and ensure Nigerians receive products at more affordable prices, closer to their locations .
Minister Oduwole reaffirmed the federal government’s commitment to promoting domestic investment and addressing challenges faced by local investors.
She hailed the refinery as a landmark project and expressed the administration’s full support for Dangote, both as a domestic investor and a champion of African investment on the global stage.
