President Bola Tinubu has expressed his gratitude to Dangote Oil and Gas Limited for reducing the price of Automotive Gas Oil (AGO), commonly known as diesel.
The announcement was made in a statement issued by Ajuri Ngelale, the President’s Special Adviser on Media and Publicity, on Wednesday in Abuja.
In Nigeria, diesel is predominantly utilized by industries and in articulated vehicles for the transportation of goods nationwide.
A reduction in diesel prices is expected to influence the cost of goods and services across the board, potentially mitigating the current surge in prices throughout the country.
Recently, Dangote reduced the price of Automotive Gas Oil (AGO) from N1,650 to N1,000 per liter for purchases of at least one million liters. Additionally, the company is offering a N30 per liter discount on orders of five million liters or more.
Mr. Ngelale noted that the price adjustment constitutes a 60 percent decrease.
He added that President Tinubu remarked this reduction would significantly benefit Nigerians and domestic businesses, whom he described as pivotal to the nation’s journey towards economic prosperity.
The Presidential spokesperson stated that the federal government holds a 20 percent stake in Dangote Refinery.
The Presidential spokesperson, Mr. Ngelale, conveyed that President Tinubu highlighted the importance of collaboration between public and private sectors in promoting the nation’s welfare.
He further reported that the President urged Nigerians and businesses to prioritize national interests, assuring them of a conducive, safe, and secure environment for their endeavors to flourish.