In a commendable move, President Bola Tinubu has lauded Dangote Oil and Gas Limited for slashing the price of Automotive Gas Oil (AGO), commonly known as diesel. This reduction, announced by the Special Adviser to the President, Ajuri Ngelale, on Wednesday, April 17, marks a significant shift in the market.
The statement reads in part, “The Group recently reviewed downwards the gantry price of AGO from N1,650 to N1,000 per litre for a minimum of one million litres of the product, as well as providing a discount of N30 per litre for an offtake of five million litres and above”.
“The price review represents a 60 percent drop, which will, in no small measure, impact the prices of sundry goods and services.
” The president affirms that Nigerians and domestic businesses are the nation’s surest transport and security to that glorious destiny of economic prosperity, noting the federal government’s 20 percent stake in Dangote Refinery and why such partnerships between public and private entities are essential to advancing the overall well-being of the country.
“The president calls 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,” the statement concluded.
This move, amounting to a 60 percent drop, is poised to have a substantial impact on the prices of various goods and services across the board. President Tinubu emphasized the importance of partnerships between public and private entities, citing the federal government’s 20 percent stake in Dangote Refinery.
He called upon Nigerians and businesses to prioritize the nation’s progress, ensuring a conducive, safe, and secure environment for economic prosperity.
