Dangote Industries President Aliko Dangote commends President Bola Tinubu’s economic reforms, saying subsidy removal and foreign exchange liberalisation created a better environment for investment and industrial growth.
President of Dangote Industries Limited, Aliko Dangote, has commended President Bola Tinubu for taking bold steps to reform Nigeria’s economy, particularly the removal of fuel subsidy and the liberalisation of the foreign exchange market.
Dangote made the remarks on Monday in Lagos during the formal launch of the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals at the Nigerian Exchange.
The business mogul expressed appreciation to President Tinubu for the economic decisions, saying the reforms had helped create an environment that supports major investments and industrial development.
Dangote said the removal of the subsidy and the liberalisation of the foreign exchange market were among the bold decisions taken by the administration.
He also commended the President’s leadership and assured the Federal Government that the Dangote Group would continue to partner with the administration to contribute to Nigeria’s economic development.
“We thank you very much for your leadership and we will continue to partner with the government to ensure that we make this country great and we make Africa great,” Dangote said.
The Dangote Group President also expressed his appreciation for the transformation of the Nigerian capital market, recalling his time as president of the Nigerian Exchange.
Dangote said he never imagined that the Nigerian Exchange would attain its current level of development when he previously worked to help reposition the institution as a world-class exchange.
The Dangote Refinery IPO, which opened on Monday, offers 4.1 billion new ordinary shares at ₦525 per share, with a minimum subscription of 10 shares valued at ₦5,250.
The offer is expected to raise approximately ₦2.15 trillion and is scheduled to remain open until October 13, 2026, subject to the terms contained in the prospectus.
The development provides Nigerians and other investors with an opportunity to participate directly in the ownership of one of Africa’s largest industrial projects, while further deepening the role of the capital market in financing major investments.
Dangote’s comments come amid continued debate over the impact of the Federal Government’s economic reforms, particularly the removal of petrol subsidy and changes to the foreign exchange regime.
