Diesel Price Will Not Exceed N1200 – Dangote
Chairman of Dangote Group, Alhaji Aliko Dangote, has stressed that his company, Dangote Petroleum’s ability to sell diesel at significantly discounted prices will provide immediate relief to Nigeria’s inflation woes.
Speaking with newsmen on Wednesday after visiting President Bola Tinubu in Lagos, Dangote expressed optimism about the economy noting that the naira exchange rate has improved significantly in recent times, dropping from around N1,900 to the dollar to the current level of N1,250-N1,300.
According to him, this is already having a positive impact, with the price of locally-produced goods like flour starting to come down as businesses pay less for diesel.
Africa’s richest man revealed that his refinery has been selling diesel at 1,200 naira per litre, compared to the previous market price of N1,650-N1,700 adding that he is expecting dramatic reduction in fuel costs to help drive down inflation in the coming months.
