President Bola Tinubu has commended the Dangote Oil and Gas Limited for reducing the price of Automotive Gas Oil, AGO, also known as diesel.
This is contained in a statement by Ajuri Ngelale, Special Adviser to the President on Media and Publicity, on Wednesday in Abuja.
Diesel is mostly used in large quantity in Nigeria by industries and articulated vehicles for transporting goods across the country.
A reduction in the price of diesel will subsequently affect the prices of goods and services across board and reduce the current skyrocketing prices in the country.
Dangote recently reviewed downwards the price of AGO from N1,650 to N1,000 per litre for a minimum of one million litres of the product, as well as providing a discount of N30 per litre for an offtake of five million litres and above.
Mr Ngelale said that the price review represented a 60 per cent drop.
He said that Tinubu stated that Nigerians and domestic businesses are the nation’s surest transport and security to that glorious destiny of economic prosperity.
The Presidential spokesman said that the federal government has 20 per cent stake in Dangote Refinery.
He said that the President noted the significance of partnership between the public and private entities in advancing the overall well-being of the country.
Mr Ngelale said that the President called on Nigerians and businesses to put the nation in priority gear while assuring them of a conducive, safe, and secure environment to thrive.
(NAN)
