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The President of Dangote Group, Aliko Dangote, has commended President Bola Ahmed Tinubu over his economic policies.
He stated that the President’s policies are stabilising the foreign exchange market and strengthening the naira.
Dangote made the remarks during a visit by the Minister of Industry, Trade and Investment, Jumoke Oduwole, to the $20 billion Dangote Petroleum Refinery & Petrochemicals and Dangote Fertiliser Limited in Ibeju-Lekki, Lagos.
He applauded Tinubu’s efforts at addressing the issue of crude supply challenges to domestic refineries, while describing the Naira-for-Crude initiative and the Nigeria First policy as transformative.
He 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.”
He stated that the initiatives and other economic reforms have stabilised the naira-to-dollar exchange rate.
The industrialist expressed optimism that the naira would continue to strengthen in the coming weeks as the effects of the reforms become more visible.
“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
“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 exchangerate,” he said.
The post Dangote Applauds Tinubu’s Economic Reforms, Says Naira Set To Strengthen Further appeared first on Naija News.
