President Bola Ahmed Tinubu has lauded Dangote Oil and Gas Limited for slashing the wholesale cost of the Automotive Gas Oil (AGO), also known as diesel, from its refinery.

Dangote Petroleum Refinery had on Tuesday announced a reduction in the cost of AGO pump price from ₦1,200 to ₦1,000 per litre, making it the second reduction in three weeks, having dropped the initial price of ₦1,600 to ₦1,200.

However, reacting to the new development in a statement issued by his special adviser on media and publicity, Ajuri Ngelale, President Tinubu said the price review by Dangote Petroleum Refinery, which represents a 60% drop, will impact the prices of sundry goods and services.

He also called on Nigerians and businesses to make the nation their priority, assuring that his administration is committed to guaranteeing a conducive, safe, and secure environment to thrive.

“President Bola Tinubu commends the enterprising feat of Dangote Oil and Gas Limited in reducing the gantry price of Automotive Gas Oil (AGO), also known as diesel.“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 off-take 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 said.

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