President Bola Tinubu has commended Dangote Oil and Gas Limited for reducing the price of Automotive Gas Oil (AGO), also known as diesel.
This is contained in a statement by Chief Ajuri Ngelale, Special Adviser to the President on Media and Publicity, on Wednesday in Abuja.
The News Agency of Nigeria (NAN) reports that diesel is mostly used in large quantities in Nigeria by industries and articulated vehicles for transporting goods across the country.
A reduction in the price of diesel will subsequently affect the prices of goods and services across the board and reduce the current skyrocketing prices in the country. Dangote recently reviewed downwards the price of AGO from ₦1,650 to ₦1,000 per litre for a minimum of one million litres of the product, as well as providing a discount of ₦30 per litre for an offtake of five million litres and above.
Ngelale said that the price review represented a 60% drop. He said that Tinubu stated that Nigerians and domestic businesses are the nation’s surest transport and security to that glorious destiny of economic prosperity.
The Presidential spokesman said that the federal government has a 20% stake in Dangote Refinery. He said that the President noted the significance of the partnership between the public and private entities in advancing the overall well-being of the country.
Ngelale said that the President called on Nigerians and businesses to put the nation in priority gear while assuring them of a conducive, safe, and secure environment to thrive.