President of Dangote Industries Limited, Aliko Dangote has commended President Bola Ahmed Tinubu for the positive impact of naira for crude swap deal on the country’s economy,
Dangote in a statement released, noted that the development has led to reduction in prices of petroleum products in Nigeria.
To provide succour to Nigerians, Dangote recently reduced the price of Premium Motor Spirit (PMS) from N970 to N899.50 at its Refinery loading gantry and provided generous credit terms to marketers.
He noted that to ensure the price reduction benefits end consumers, Dangote Refinery has partnered with MRS to sell petrol from its retailed outlets nationwide at N935 per litre.
Dangote further noted that the price has already commenced in Lagos, and it will be offered nationwide from Monday.
He urged other oil marketers such as NNPC Retail and all other marketers to collaborate with the company to ensure that Nigerians enjoy high-quality petrol at discounted prices.
The statement added, “The Dangote Refinery is for the benefit of Nigeria and Nigerians. We will therefore continue to work with various value chain players to deliver high quality petrol at cheaper prices. Our aim is for all Nigerians to have ready access to high quality petroleum products that are good for their vehicles, good for their health, and good for their pockets.”
Dangote thanked Nigerians for their support and the government for creating an enabling environment for the domestic refining industry.
Recall that in September, Federal Executive Council (FEC) under the leadership of Tinubu approved the sale of crude to local refineries in Naira and corresponding purchase of petroleum products in Naira.
The move, which commenced on October 1, led to reduced pressure on the dollar and stabilised naira.
