President Bola Ahmed Tinubu has lauded the Dangote Group for its recent decision to slash the price of Automotive Gas Oil (AGO), commonly referred to as diesel.
This commendation was conveyed by Ajuri Ngelale, the President’s Special Adviser on Media & Publicity, in a statement released on Wednesday. The reduction, announced by the Dangote refinery on Monday, saw diesel prices drop from N1200 to N1000 per litre.
President Tinubu’s response to this development underscored its potential impact on the broader economy. He hailed Dangote Oil and Gas Limited for its proactive approach in lowering the gantry price of AGO, recognizing the significance of this action in alleviating the financial burden on consumers and businesses. The substantial 60% reduction in price is anticipated to have a ripple effect on the affordability of various goods and services.
In his remarks, President Tinubu emphasized the importance of public-private partnerships, citing the federal government’s stake in Dangote Refinery as a testament to collaborative efforts in driving economic progress. He affirmed the pivotal role of Nigerian citizens and domestic enterprises in steering the nation towards prosperity. Additionally, he reassured the public of a conducive and secure environment conducive to economic growth.
This commendation comes amidst a challenging economic landscape marked by soaring headline and food inflation rates, which have surged to 33.20% and 40.01% respectively. Manufacturers have attributed the escalating cost of goods across the nation to the rising prices of energy resources.
