President Bola Tinubu has commended Dangote Oil and Gas Limited in reducing the pump price of Automotive Gas Oil (AGO), also known as diesel.
In an unprecedented review, the firm reduced the price of AGO from N1,200 to N1,000 per litre for the supply of a minimum of one million litres of the product, as well as providing a discount of N30 per litre for five million litres and above, from the initial market price of N1,600 per litre.
This is a 60 percent downward review, which is expected to impact on the prices of goods and services and ultimately reduce the high inflation rate across the country.
In a release by his Media Adviser, Ajuri Ngelale, President Bola Tinubu assured Nigerians that domestic businesses being the nation’s surest transport and security will reach its glorious destiny of economic prosperity.
He also noted that the Federal Government’s 20 percent stake in Dangote Refinery is a defining factor in the public -private partnerships that are essential to advancing the overall well-being of the economy of the country.
President Tinubu 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.
With its 650,000 barrels capacity per day, Dangote refinery is expected to significantly impact on Nigeria’s dependence on imported petroleum products as the nation currently imports nearly all of its fuels due to its insufficient refining capability.
