Dangote Applauds Tinubu’s Economic Policies, Says Reforms Restoring Investor Confidence
Founder of the Dangote Group, Aliko Dangote, has praised President Bola Tinubu as a listening leader whose economic policies are helping to restore investor confidence in Nigeria.
Dangote gave the commendation during the weekend when the Minister of Industry, Trade and Investment, Doctor Jumoke Oduwole, visited the $20 billion Dangote Petroleum Refinery & Petrochemicals and Dangote Fertiliser Limited in Ibeju-Lekki, Lagos.
He applauded the President’s commitment to resolving crude oil supply issues affecting local refineries and described the “Naira-for-Crude” initiative and “Nigeria First” policy as bold and transformative steps capable of revitalising the economy.
“We must sincerely thank His Excellency, President Bola Ahmed Tinubu, for the improvements in crude oil supply. His decision that all crude transactions be conducted in naira is particularly commendable. For us to meet market demand effectively, which we have the capacity to do, it is essential that crude is priced and bought in our local currency,” Dangote said.
He added that the reforms have contributed to stabilising the naira-to-dollar exchange rate and expressed optimism that the naira would continue to strengthen in the coming weeks as the impact of the policies becomes more evident.
“We are beginning to see some level of stability in the naira-to-dollar rate. The reduced fluctuation has brought a degree of predictability to the market. For the business community, this is a positive shift, as it allows for better planning. As the market continues to stabilise, we expect a more favourable exchange rate,” he added.