Aliko Dangote Praises President Tinubu’s Naira-for-Crude Initiative Predicts Economic Growth Boost

Aliko Dangote, President and Chief Executive of the Dangote Group, has publicly commended President Bola Ahmed Tinubu for his administration’s economic policies including the Naira-for-Crude initiative describing them as bold and transformative steps expected to stimulate Nigeria’s economic growth.

Dangote’s remarks came during a visit by the Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole to the Dangote Petroleum Refinery & Petrochemicals and Dangote Fertiliser Limited in Ibeju-Lekki, Lagos over the weekend.

He praised President Tinubu as a “listening president” who has restored investor confidence in Nigeria’s economy through practical and timely reforms.

Highlighting the Naira-for-Crude policy, Dangote noted “We must sincerely thank His Excellency, President Bola Ahmed Tinubu, for ensuring improvements in the supply of crude oil.

His insistence that all crude oil transactions be conducted in naira is particularly commendable. For us to effectively meet market demand—which we can do—it is essential that crude is priced and purchased in our local currency.

Dangote further explained that this initiative, alongside the Nigeria First policy, has brought much-needed stability to the naira-to-dollar exchange rate reducing fluctuations and improving market predictability.

These conditions, he said have enabled investors and businesses to make sound decisions thus restoring confidence in the investment climate.

The Dangote Group CEO also praised the government’s establishment of a One-Stop Shop (OSS) framework to coordinate regulatory and security agencies, facilitating smoother operations under the Naira-for-Crude programme by minimizing bureaucratic delays.

Expressing optimism, Dangote said the effects of these reforms are expected to become more visible in the coming weeks, with the naira continuing to strengthen and the economy showing signs of faster revival.

This endorsement from one of Africa’s foremost business leaders underscores the positive reception of President Tinubu’s economic policies within the Nigerian private sector and signals hopeful prospects for sustainable economic growth under his administration.