In a recent interview, Alhaji Aliko Dangote, the industrialist and Chairman of the Dangote Group, expressed confidence in the Nigerian economy. With the cost of diesel decreasing by one-third to ₦1,200 per liter (compared to the previous market price of ₦1,650-₦1,700), Dangote believes that the rate of inflation will soon follow suit.
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Speaking to journalists during his Eid-el-Fitr visit to President Bola Tinubu’s residence in Lagos, Dangote highlighted the positive impact of this development. Locally-produced goods, such as flour, are becoming more affordable for consumers as businesses pay less for diesel fuel.
Furthermore, the naira exchange rate has improved significantly, dropping from around ₦1,900 to ₦1,250-₦1,300 against the dollar. Dangote remains optimistic about Nigeria’s economic trajectory, emphasizing that the country is on the right track.
In summary, the reduction in diesel prices and currency stabilization are promising signs for the Nigerian economy. 🌟🇳🇬
