Aliko Dangote, the President of the Dangote Group, has announced that the company's refinery has reduced the price of diesel by two-thirds, which he believes will lead to a drop in inflation in Nigeria.
Speaking to journalists after paying Eid-el-Fitr homage to President Bola Tinubu, Dangote explained that the refinery had started selling diesel at ₦1,200 per litre, compared to the previous price of ₦1,650 - ₦1,700.
He stated that this reduction in fuel costs would benefit the economy and result in lower prices for locally-produced goods.
Dangote expressed optimism about Nigeria's economic outlook, citing the recent appreciation of the naira in the foreign exchange market.
He called on entrepreneurs and the government to work together to improve the lives of the citizens, emphasizing that reduced inflation is in everyone's best interest.