President Bola Tinubu has praised Dangote Oil and Gas Limited for its entrepreneurial achievement in lowering the gantry price of Automotive Gas Oil (AGO), commonly known as diesel.
The Group recently adjusted the gantry price of Automotive Gas Oil (AGO) from ₦1,650 to ₦1,000 per litre for purchases of a minimum of one million litres of the product. Additionally, they are offering a discount of ₦30 per litre for purchases of five million litres and above.
This price adjustment reflects a significant 60% reduction, which is expected to have a substantial impact on the prices of various goods and services.
In a statement released by Special Adviser to the President (Media & Publicity), Ajuri Ngelale, on Wednesday, it was noted that the president acknowledged the substantial benefits that Nigerians, domestic businesses, and the transportation sector will derive from this price reduction.
Tinubu emphasized the significance of collaborations between public and private sectors in enhancing the nation’s overall welfare.
Currently, the federal government holds a 20% stake in Dangote Refinery.
Furthermore, the president urged Nigerians and businesses to prioritize the nation’s interests during this period, while assuring them of a conducive, safe, and secure environment for growth.