Dangote: Tinubu’s economic policies reviving Nigeria’s private sector

*Dr. Jumoke Oduwole, Minister for Industry, Trade and Investment, restates the Nigerian Government’s commitment to supporting domestic investors

*Naira-for-Crude initiative, Nigeria First policy, and other reforms bring a measure of stability to Forex market, says Aliko Dangote

Isola Moses | ConsumerConnect

Aliko Dangote, President/Chief Executive (CE) of the Dangote Group, has hailed President Bola Ahmed Tinubu, describing as a listening President whose policies are restoring private investors’ confidence in the Nigerian economy.

Dangote stated this at the weekend during a visit by Dr. Jumoke Oduwole, Minister for Industry, Trade and Investment, to the $20 billion Dangote Petroleum Refinery & Petrochemicals and Dangote Fertiliser Limited at Ibeju-Lekki, in Lagos.

Commending President Tinubu’s efforts at addressing the issue of crude supply challenges to domestic refineries, the Group stated that Dangote applauded the Naira-for-Crude initiative and “Nigeria First policy” as bold and transformative steps capable of revitalising the economy faster than expected.

He also said: “I believe we must sincerely thank His Excellency, President Bola Ahmed Tinubu, for ensuring that 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.

“For us to effectively meet market demand—which we can do—it is essential that crude is priced and purchased in our local currency.”

Dangote Group stated the leading industrialist noted that these initiatives, along with other economic reforms, have brought a measure of stability to the Naira-to-Dollar exchange rate.

He expressed optimism that the naira would continue to strengthen in the coming weeks as the effects of the reforms become more visible.

According to him, the improved market predictability has helped investors make sound business decisions and restored confidence in the investment climate.

Dangote also said: “We are also beginning to see some stability in the naira-to-dollar exchange rate, which has had a positive impact.

“There is now less fluctuation, and this has brought a degree of predictability to the market.”

The President of Dangote Group stated: “For those of us in the business sector, this is a welcome development, as it allows us to plan more effectively.

“Looking ahead, as market conditions continue to improve, we can expect to see a more favourable exchange rate.”

He as well commended the Federal Government for establishing a One-Stop Shop (OSS) initiative to improve coordination among regulatory and security agencies, thereby facilitating smoother operations under the Naira-for-Crude programme.

The Chief Executive of Dangote Industries Limited emphasised how the OSS has significantly reduced bottlenecks and enabled the real-time resolution of issues, in line with President Tinubu’s directive.

He averred: “The administration of His Excellency, President Bola Ahmed Tinubu, has established a One-Stop Shop that is working diligently.

“I am confident that the government intends to replicate this model in other sectors, particularly to streamline the clearing of goods—an essential area of business.”

He equally stated: “At present, we are not experiencing any significant issues with loading.

“All the relevant agencies have been brought together under one roof, including the Navy, NIMASA, NPA, and others.”

Dangote further explained: “This coordination has greatly improved efficiency.

“Whenever issues arise, they are promptly addressed through the leadership of the Chairman of the Technical Committee, Mr Zack Adedeji, who is doing an excellent job.”

The business magnate disclosed that the refinery is set to launch a new initiative involving the deployment of 4,000 CNG (Compressed Natural Gas) tankers to distribute petroleum products more efficiently and in an environmentally friendly manner.

The move, he noted, will reduce logistics costs and ensure Nigerians receive products at more affordable prices, closer to their locations.

Minister: Tinubu administration is focused on domestic investments

Speaking during her visit to the Dangote Petroleum Refinery, in Lagos, Dr. Jumoke Oduwole, Honourable Minister for Industry, Trade and Investment (FMITI), reaffirmed the Federal Government’s commitment to promoting domestic investment and addressing the challenges faced by local investors.

She said: “We are here today as a result of President Bola Ahmed Tinubu’s clear focus on domestic investment.

“As you are aware, we held a Domestic Investment Summit on Monday—the first of its kind.

“Today, we are gathered at the invitation of Alhaji Aliko Dangote, a leading investor who has committed an extraordinary amount of resources to Nigeria’s development.”

Dr. Oduwole hailed the refinery as a landmark project, noting that even governments shy away from initiatives of such scale.

She said the administration is demonstrating real support for domestic investors by taking practical steps to reduce constraints and foster growth.

The Minister stated: “He (Dangote) has taken on a project of such magnitude—one that even governments often hesitate to undertake.

“As an administration, we do not take this lightly.

“We are here to show our full support for him, both as a foremost domestic investor and as a prominent champion of African investment on the global stage”

She asserted: “Our support is not limited to words; we are demonstrating our commitment through action.

“We are encouraging other domestic investors by recognising and backing those, like Alhaji Dangote, who put Nigeria first.”

Dr. Oduwole said: “This is not mere rhetoric—our time, attention, and effort are fully aligned with our priorities.

“That is why we have dedicated an entire day to immersing ourselves in this project—the Dangote Refinery.”

She added that the Federal Government is continuously engaging with stakeholders and reviewing regulatory and legislative frameworks to reduce business costs and stimulate industrial development.

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