By Sunday Daniel
Tinubu/Dangote – Dec. 6, 2025
Africa’s richest man and President of the Dangote Group, Aliko Dangote, has thrown his weight behind President Bola Ahmed Tinubu’s Naira-for-Crude initiative, describing the policy as a forward-looking measure capable of stabilising the foreign exchange market and strengthening the national economy.
During a visit to the Presidential Villa in Abuja, Dangote said the directive requiring local refiners to purchase crude in naira would ease pressure on the dollar, improve liquidity and give domestic operators a clearer planning horizon. The billionaire industrialist noted that the policy aligns with global practices among resource-rich nations seeking to enhance the competitiveness of their local currencies.
He explained that the Naira-for-Crude framework would not only deepen the value chain within the oil and gas sector but also insulate the economy from external shocks occasioned by fluctuations in international energy markets. According to him, the move offers an opportunity to build a more resilient and predictable crude supply structure for the Dangote Refinery and other local processors.
Dangote assured Nigerians that his refinery remains fully committed to supporting the administration’s economic reforms through the steady supply of premium motor spirit (PMS), diesel, aviation fuel and other refined products. He said the facility is adequately positioned to meet domestic demand and significantly reduce dependence on imported fuels.
He further emphasised that the refinery is expected to serve as a major catalyst for industrial growth, job creation and enhanced government revenue. By retaining value within the country, he said, the project would accelerate Nigeria’s quest for energy security and long-term economic diversification.
The industrialist commended President Tinubu for what he described as bold and necessary policy interventions targeted at restoring macroeconomic stability. He urged Nigerians to remain optimistic, insisting that the benefits of the reforms would become more evident as implementation gains traction.
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