The Federal Government has commended Dangote Oil and Gas Limited for its slash in the price of Diesel in the country, News About Nigeria reports.
President Bola Ahmed Tinubu lauded Dangote on Wednesday for slashing the price of diesel from N1,650 to N1,000 per litre.
He described the move by the company as an enterprising feat, stating that the price review represents a 60 percent drop, which will, in no small measure, impact the prices of various goods and services.
In a statement signed by his Special Adviser on Media and Publicity, Ajuri Ngelale, Tinubu said that such partnerships between public and private entities are essential to advancing the country’s overall well-being.
He also revealed that the Federal Government has a 20 percent stake in Dangote Refinery, and affirmed that Nigerians and domestic businesses are the nation’s surest transport and security for economic prosperity.
Recall that the Dangote Group recently revised 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
Earlier, Dangote urged Nigerians to expect a drop in inflation given the cut in diesel pump prices.
“In our refinery, we have started selling diesel at about ₦1,200 for ₦1,650 and I’m sure as we go along…this can help to bring inflation down immediately,” he said.
President Bola Tinubu, however, urged Nigerians and businesses to, at this time, put the nation in priority gear while assuring them of a conducive, safe, and secure environment to thrive.
