By Ken Afor
President Bola Ahmed Tinubu has commended Dangote Oil and Gas Limited for significantly reducing the price of automotive gas oil (AGO), commonly known as diesel, citing the positive impact it will have on businesses and consumers across Nigeria.
In a statement released on Wednesday, by Presidential Spokesman Ajuri Ngelale, Tinubu praised the “enterprising feat” of Dangote in slashing the price of diesel from N1,650 to N1,000 per liter for purchases of at least one million liters.
The company is also offering an additional N30 per liter discount for off-takes of five million liters or more.
The price reduction represents a 60 percent drop, which the President said “will, in no small measure, impact the prices of sundry goods and services” throughout the country.
Tinubu affirmed that “Nigerians and domestic businesses are the nation’s surest transport and security to that glorious destiny of economic prosperity, noting the federal government’s 20 percent stake in Dangote Refinery and why such partnerships between public and private entities are essential to advancing the overall well-being of the country.”
The President called on Nigerians and businesses to prioritize the country’s interests during this period, assuring them of a “conducive, safe, and secure environment to thrive.”
Economists predict that the significant diesel price cut by Dangote will provide relief to industries, transporters, and consumers who have grappled with soaring fuel costs over the past year.
Also, the move could help rein in inflation and boost economic activity across various sectors.
