The Founder of the Dangote Group, Aliko Dangote, has hailed President Bola Tinubu as a listening president whose policies are restoring investor confidence in Nigeria’s economy.
Dangote made the remarks over the weekend during a visit by the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, to the $20 billion Dangote Petroleum Refinery & Petrochemicals and Dangote Fertiliser Limited in Ibeju-Lekki, Lagos.
Commending President Tinubu’s efforts to address crude supply challenges to domestic refineries, Dangote praised the Naira-for-Crude initiative and the Nigeria First policy as bold and transformative steps capable of revitalising the 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,” he said.
He noted that these initiatives, along with other economic reforms, have brought a measure of stability to the naira-to-dollar exchange rate, expressing optimism that the naira would continue to strengthen in the coming weeks as the effects of the reforms become more visible.
According to him, the improved market predictability has helped investors make sound business decisions and restored confidence in the 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 said.