President Bola Ahmed Tinubu has said his support for the Dangote Refinery was driven by the need to encourage greater private sector investment in Nigeria’s economy.
Tinubu made the remarks on Thursday while receiving the board and management of the Nigerian Exchange Group at the Presidential Villa in Abuja.
The president revealed that discussions about the refinery began long before he assumed office, recalling conversations with the late former President Muhammadu Buhari on how to make the project a reality through private sector participation.
He also highlighted his administration’s introduction of the naira-for-crude policy after taking office on May 29, 2023, describing it as a measure aimed at stabilising the naira while reducing reliance on letters of credit and other administrative processes.
Tinubu expressed confidence in Nigeria’s economic potential, saying the country has the population, talent, and determination to build a one-trillion-dollar economy.
He reiterated that strengthening private sector participation remains central to his administration’s economic agenda, noting that his backing of the Dangote Refinery reflects that commitment.
