• Thursday, May 23, 2024
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BusinessDay

Tinubu hails Dangote over 60% crash in diesel prices

Still on the importance of the Office of the Chief Economic Adviser to the President

President Bola Tinubu on Wednesday commended the enterprising feat of Dangote Oil and Gas Limited in reducing the gantry price of Automotive Gas Oil (AGO), also known as diesel, by as much as 60%.

Ajuri Ngelale , Presidential Spokesman, in a statement, said the Group recently reviewed downwards the gantry price of AGO from N1,650 to N1,000 per litre for a minimum of one million litres of the product.

The company is also providing a discount of N30 per litre for an offtake of five million litres and above.

The price review, according to the President, “represents a 60 percent drop, which will, in no small measure, impact the prices of sundry goods and services.

Tinubu, in the statement , noted that Nigerians and domestic businesses are the nation’s surest transport and security to that glorious destiny of economic prosperity.

The President, while harping on the federal government’s 20 percent stake in Dangote Refinery, noted that ” such partnerships between public and private entities are essential to advancing the overall well-being of the country.

The President therefore , called on 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.