Decreasing Diesel Prices Expected to Lower Inflation, Says Dangote

Aliko Dangote, Africa’s wealthiest individual, has expressed his belief that Nigerians can anticipate a decrease in inflation due to the reduction in diesel pump prices.

During a conversation with journalists after paying his respects to President Bola Tinubu in Lagos, Dangote emphasized that the country is on the right path and that Nigerians have displayed patience.

He highlighted the positive impact of the naira’s stabilization, with the exchange rate improving from ₦1,900 to approximately ₦1,250-₦1,300. Dangote also mentioned the reduction in diesel prices at his refinery, from ₦1,650 to ₦1,200 per litre, which he believes will contribute to improved economic conditions. He further stated that this reduction in transportation costs for locally-produced goods can help alleviate inflation.

Dangote expressed confidence in the government’s efforts to enhance the overall situation for the benefit of all citizens.