By Ayomide Otitoju
Africa’s richest man and President of the Dangote Group, Aliko Dangote, has applauded President Bola Ahmed Tinubu for policies he says are restoring investor confidence and accelerating economic stability in Nigeria.
Dangote made the remarks during the weekend while hosting the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, at the $20 billion Dangote Refinery and Fertiliser Complex in Ibeju-Lekki, Lagos.
He specifically praised the Federal Government’s Naira-for-Crude initiative and the “Nigeria First” policy, describing them as transformative steps that are helping to ease crude supply challenges for local refineries.
“I believe we must sincerely thank His Excellency, President Bola Ahmed Tinubu, for ensuring an improved crude oil supply landscape. His insistence on conducting crude transactions in naira is particularly commendable,” Dangote stated. “To meet domestic market demands effectively, we must transact in our own currency.”
Dangote noted that the policy shift has begun stabilising the naira-to-dollar exchange rate, bringing increased predictability to the business environment. “For those of us in the private sector, this is a welcome development. It enables us to plan more effectively,” he said, expressing optimism that the naira would continue to gain strength as economic reforms take hold.
The industrialist also lauded the establishment of a One-Stop Shop (OSS) by the Tinubu administration, aimed at streamlining coordination among regulatory and security agencies. According to him, this initiative has eliminated operational bottlenecks, particularly under the Naira-for-Crude framework.
“At present, we are not experiencing delays in loading. Agencies such as the Navy, NIMASA, and NPA are working together under one roof, and any emerging issues are promptly resolved,” Dangote noted. He praised Mr. Zacch Adedeji, Chairman of the Technical Committee, for his effective leadership in overseeing implementation.
Dangote further revealed plans to roll out 4,000 Compressed Natural Gas (CNG) tankers as part of the refinery’s new distribution strategy. The move, he said, will reduce logistics costs, promote clean energy use, and lower fuel prices for consumers nationwide.
In her remarks, Dr. Oduwole reaffirmed the Federal Government’s commitment to supporting local investors and industrial development. “We are here as part of President Tinubu’s focused agenda to promote domestic investment,” she said, referencing the recent Domestic Investment Summit held in Abuja.
Dr. Oduwole described the Dangote Refinery as a historic industrial milestone, noting that such ventures are rarely undertaken even by governments. “This project is of immense national value, and our presence here signals not just moral support but tangible action to ease constraints facing local investors,” she said.
She added that the government is working closely with stakeholders to update regulations and improve Nigeria’s investment climate. “We are reviewing frameworks to lower the cost of doing business and stimulate industrial growth,” Oduwole affirmed.
