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Aliko Dangote, President of Dangote Industries Limited, has commended President Bola Tinubu for removing the fuel subsidy and liberalising the foreign exchange market.
Dangote spoke on Monday at the Nigerian Exchange in Lagos during the formal launch of the Initial Public Offering (IPO) of Dangote Petroleum Refinery and Petrochemicals.
He praised Tinubu’s leadership and said the Dangote Refinery was supporting the administration’s efforts to advance Nigeria’s development.
“I want to thank him for taking a lot of bold steps by removing the subsidy and democratising the exchange rate…” Dangote said.
Dangote also said the Dangote Group would continue working with the government to contribute to the country’s development and Africa’s growth.
“So, we thank you very much for your leadership, and we will continue to partner with the government to ensure that we make this country great and we make Africa great,” he said.
The businessman, a former president of the Nigerian Exchange, also expressed surprise at the bourse’s transformation. He said he had previously worked to help make the exchange a world-class institution but did not expect it to reach its current level by 2026.
“I was the president of this exchange. Even when I was inviting people to come and help me turn the exchange around to make it a world-class exchange, I never thought this exchange would be at this level in 2026,” he said.
Dangote added that a larger ceremony would be held with President Tinubu in attendance.
The refinery’s IPO opened on Monday with an offer of 4.1 billion new ordinary shares at N525 each. The minimum subscription is 10 shares, valued at N5,250. The offer is scheduled to close on October 13, 2026, subject to the prospectus terms.
