Tinubu Hails Dangote’s Price Slashing Of Diesel, A Game-Changer For Nigeria’s Economy

• Dangote Petroleum Refinery slashes diesel prices from N1,200 to N1,000 per litre

• President Tinubu commends the move, saying it will positively impact the economy

• Tinubu calls on Nigerians and businesses to prioritize the nation’s wellbeing

Eko Hot Blog reports that amidst the ongoing economic challenges faced by Nigerians, there is a glimmer of hope as President Bola Tinubu has commended the Dangote Group for slashing the price of diesel.

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In a statement, the President said, “President Bola Tinubu commends the enterprising feat of Dangote Oil and Gas Limited in reducing the gantry price of Automotive Gas Oil (AGO), also known as diesel.”

Tinubu further highlighted the significance of this move, stating, “The price review represents a 60 percent drop, which will, in no small measure, impact the prices of sundry goods and services.” The President affirmed that “Nigerians and domestic businesses are the nation’s surest transport and security to that glorious destiny of economic prosperity.”

The Dangote Petroleum Refinery’s decision to reduce the diesel price from N1,200 to N1,000 per litre is seen as a strategic move that will positively impact various sectors of the economy and ultimately reduce the high inflation rate in the country. The refinery had previously decreased the price by over 30%, from N1,600 to N1,200 per litre, three weeks ago.

In his statement, Tinubu noted the importance of public-private partnerships, such as the federal government’s 20% stake in the Dangote Refinery, in advancing the overall wellbeing of the nation. The President called on Nigerians and businesses to prioritize the nation’s wellbeing and assured them of a conducive, safe, and secure environment to thrive.

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This news report highlights the significance of collaborative efforts between the public and private sectors in addressing the economic challenges faced by Nigeria, and the potential for such partnerships to drive economic growth and prosperity.

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