Dangote applauds Tinubu’s economic policies, commends Crude-For-Naira Initiative

Africa’s richest man and Chairman of the Dangote Group, Aliko Dangote, has commended President Bola Ahmed Tinubu for adopting bold and strategic economic reforms aimed at restoring investor confidence in Nigeria.

Dangote praised the President’s commitment to improving crude oil supply for local refineries and described him as a “listening leader” whose policies are reviving business optimism.

The billionaire industrialist made these remarks during the visit of the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, to the $20 billion Dangote Refinery and Petrochemical complex in Ibeju-Lekki, Lagos, over the weekend.

In particular, Dangote lauded the administration’s Naira-for-Crude initiative and the Nigeria First policy, describing them as transformative steps toward stabilizing the economy.

“I believe we must sincerely thank His Excellency, President Bola Ahmed Tinubu, for ensuring 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,” Dangote stated.

He noted that the reforms have helped reduce volatility in the naira-to-dollar exchange rate and restored predictability in the market—benefits that have enabled businesses to plan more effectively.

“We are beginning to see some stability in the naira-to-dollar exchange rate, which has had a positive impact,” Dangote added, expressing optimism that the naira would further strengthen in the coming weeks.

He also praised the Federal Government’s One-Stop Shop (OSS) approach to inter-agency coordination, saying it had significantly eased operations in the oil sector by addressing bottlenecks and facilitating real-time issue resolution.

According to him, the integration of key agencies such as the Navy, NIMASA, and NPA under one roof has improved loading and clearance procedures, thanks to the leadership of Mr. Zacch Adedeji, Chairman of the Technical Committee.

Dangote also revealed a new sustainability initiative aimed at reducing logistics costs and improving product distribution across the country.

The company, he said, would soon roll out 4,000 Compressed Natural Gas (CNG) tankers to transport petroleum products in a more cost-effective and environmentally friendly manner.

The refinery mogul’s remarks come amid renewed focus on Nigeria’s economic recovery efforts and highlight the growing support among major investors for the Tinubu administration’s reform agenda.