President Bola Tinubu has said his support for the Dangote Refinery was aimed at encouraging greater private sector investment and strengthening Nigeria’s economy.
Tinubu made the disclosure while addressing the board and management of the Nigerian Exchange Group at the Presidential Villa in Abuja on Thursday.
The President noted that talks on the refinery started during the tenure of the late former President Muhammadu Buhari, adding that they sought to make the huge project privately driven.
He said his administration also introduced the naira for crude initiative after assuming office in May 2023, describing it as part of measures to stabilise the currency and ease difficulties associated with crude transactions.
The News Chronicle reports that Tinubu has repeatedly highlighted private sector investment as a key driver of his administration’s economic agenda, particularly as Nigeria seeks to expand domestic production and reduce dependence on imports.
According to the President, Nigeria has the population, talent and determination required to build a $1 trillion economy.
Tinubu said supporting major private investments such as the Dangote Refinery was necessary to unlock Nigeria’s economic potential and create room for more businesses to invest and expand.
