…Businessman says policy decisions have created room for major industrial investments.
LAGOS, September 14, 2026: President of Dangote Industries Limited, Aliko Dangote, has commended President Bola Ahmed Tinubu for what he described as bold economic decisions, particularly the removal of fuel subsidies and reforms in the foreign exchange market.
Dangote spoke on Monday in Lagos during the formal launch of the Initial Public Offering of Dangote Petroleum Refinery and Petrochemicals on the Nigerian Exchange.
The businessman expressed appreciation for the Tinubu administration’s decision to move away from the previous fuel subsidy regime and reform the foreign exchange market, saying the policy direction had helped create a more predictable environment for large-scale investments.
He also linked the development of the Dangote Refinery and its growing role in Nigeria’s petroleum industry to the broader economic environment created by the reforms. The 650,000-barrel-per-day refinery has become a major feature of Nigeria’s transition towards greater domestic refining and reduced dependence on imported petroleum products.
Dangote further pledged continued cooperation between the Dangote Group and government, stressing the importance of partnerships between the public and private sectors in advancing Nigeria’s economic development.
The refinery’s public offering, which commenced on Monday, involves 4.1 billion new ordinary shares priced at ₦525 each, with the minimum subscription set at 10 shares, valued at ₦5,250. The offer is scheduled to close on October 13, 2026, subject to the terms of the prospectus.