Dangote Hails Tinubu’s Economic Reforms, Predicts Stronger Naira

Africa’s richest man and President of Dangote Group, Aliko Dangote, has praised President Bola Tinubu’s economic reforms, stating they are stabilising the foreign exchange market and strengthening the naira.

Speaking during the visit of Minister of Industry, Trade and Investment, Jumoke Oduwole, to the Dangote Refinery and Fertiliser facilities in Ibeju-Lekki, Lagos, Dangote highlighted the administration’s support for local refineries and the recent Naira-for-Crude initiative.

“We must sincerely thank President Tinubu for the improvement in crude oil supply and his insistence on conducting crude transactions in naira. This move is essential for meeting local market demand effectively,” Dangote said.

He noted that the policy shift has already brought more stability to the exchange rate, reducing market fluctuations and allowing for better business planning.

“We’re beginning to see stability in the naira-to-dollar exchange rate, which is creating a more predictable business environment. If current trends continue, we can expect further strengthening of the naira,” he added.

Dangote described the reforms as transformative and expressed confidence in their long-term impact on Nigeria’s economic growth.