Dangote Hails Tinubu as Reformer-in-Chief, Unveils 4,000 New Fuel Trucks for Nationwide Rollout

Nigeria’s foremost industrialist, Aliko Dangote, has described President Bola Ahmed Tinubu as a “listening president” whose economic policies are steadily reviving confidence within the private sector. This statement was made during a ministerial visit to the $20 billion Dangote Refinery and Fertiliser Complex in Ibeju-Lekki, Lagos, as observed by iReporter Online.

During the visit by the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, Dangote praised Tinubu’s “Naira-for-Crude” directive and the “Nigeria First” policy as decisive actions that have begun reshaping the investment climate and tackling crude supply challenges for local refineries.

He emphasized that conducting crude oil transactions in the naira has not only boosted domestic purchasing power but also contributed to the relative stability in the foreign exchange market. “There’s greater predictability now. It’s helping us plan better and investors are regaining confidence,” Dangote noted.

According to him, the local currency-based oil pricing model has improved operational efficiency and market responsiveness, bringing down volatility in the naira-to-dollar exchange rate. He expressed optimism that the currency would continue to gain strength as the reforms are fully implemented.

Further commending the federal government’s support, Dangote highlighted the establishment of a One-Stop Shop (OSS) for coordinating regulatory and security agencies under one roof. He explained that this system, which includes stakeholders like the Nigerian Navy, NPA, and NIMASA, has streamlined operations, reduced bureaucratic delays, and improved the real-time resolution of issues.

The business magnate also disclosed the arrival of 4,000 Compressed Natural Gas (CNG) trucks in Lagos—a critical part of a nationwide logistics strategy set to roll out on August 15. These CNG-powered vehicles are expected to reduce transportation costs, support cleaner energy, and allow for the direct delivery of petroleum products to filling stations and major industrial consumers across Nigeria.

Meanwhile, Minister Oduwole reiterated the federal government’s commitment to enabling domestic investment. She described the Dangote Refinery as a national milestone and a model for private-sector-led infrastructure development, stating that the administration is actively reviewing business regulations to eliminate bottlenecks and foster growth.

According to iReporter Online, the Dangote Group confirmed the arrival of the CNG trucks via a video posted to its official media channels, showing cranes offloading the vehicles from a ship and lining them up at the refinery base. The refinery’s direct distribution model, however, has sparked concerns among petroleum marketers and retail operators who fear job losses and market displacement.

Despite the controversy, Dangote has stated the refinery’s intention to meet the nation’s full daily demand of 65 million litres—comprising 45 million litres of petrol, 15 million litres of diesel, and 5 million litres of aviation fuel—thereby cutting reliance on fuel imports and intermediaries.