By Merciful Omoba
Aliko Dangote, Founder of the Dangote Group, has commended President Bola Tinubu, describing him as a “listening president” whose economic policies are actively restoring investor confidence in Nigeria’s economy.
Dangote made these remarks over the weekend during a visit by the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, to the sprawling $20 billion Dangote Petroleum Refinery & Petrochemicals and Dangote Fertiliser Limited complex in Ibeju-Lekki, Lagos.
Commending President Tinubu’s efforts to address crude supply challenges to domestic refineries, Dangote specifically lauded the Naira-for-Crude initiative and the Nigeria First policy as “bold and transformative steps” capable of revitalizing the nation’s economy.
“I believe we must sincerely thank His Excellency, President Bola Ahmed Tinubu, for ensuring that there have been improvements in the supply of crude oil. His insistence that all crude oil transactions be conducted in naira has been particularly commendable.
For us to effectively meet market demand—which we have the capacity to do—it is essential that crude is priced and purchased in our local currency,” Dangote stated.
He noted that these initiatives, coupled with other economic reforms implemented by the administration, have brought a measure of stability to the naira-to-dollar exchange rate. Dangote expressed optimism that the naira would continue to strengthen in the coming weeks as the full effects of these reforms become more visible across the economy.
According to the business mogul, this improved market predictability has empowered investors to make sound business decisions and has significantly restored confidence in the country’s investment climate.
“We are also beginning to see some stability in the naira-to-dollar exchange rate, which has had a positive impact. There is now less fluctuation, and this has brought a degree of predictability to the market. For those of us in the business sector, this is a welcome development, as it allows us to plan more effectively. Looking ahead, as market conditions continue to improve, we can expect to see a more favourable exchange rate,” he concluded.
