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  • News - North Central - FCT
  • Updated: April 17, 2024

Tinubu hails Dangote's reduction in diesel prices

Tinubu hails Dangote's reduction in diesel prices

President Bola Tinubu has praised Dangote Oil and Gas Limited for cutting the price of Automotive Gas Oil (AGO), commonly known as diesel, by 60 per cent.

This was contained in a statement issued by his spokesman, Ajuri Ngelale on Wednesday. 

According to the statement, the president affirmed that Nigerians and domestic businesses are the nation’s surest transport and security to that destiny of economic prosperity.

The statement noted 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 urged Nigerians and businesses to prioritize the country’s interests at this moment. He assured them of a favourable, safe, and secure environment for growth and prosperity.

Recall that the Dangote Group recently reviewed downwards the price of AGO from N1,650 to N1,000 per litre for a minimum of one million litres of the product, as well as providing a discount of N30 per litre for an offtake of five million litres and above.

The price review represents a 60 per cent drop, which will, in no small measure, impact the prices of sundry goods and services.

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