Industrialist and Chairman of the Dangote Group, Alhaji Aliko Dangote, has assured with the cost of diesel dropping one-thirds to ₦1,200, the rate of inflation will soon drop.
Dangote was speaking to journalists when he paid Eid-el-Fitr homage to President Bola Tinubu at his residence in Lagos. He said his petroleum refinery had been selling diesel at ₦1,200 naira per litre compared to the previous market price of ₦1,650-₦1,700.
As reported by the nations, he also expressed optimism on the economy noting that the naira exchange rate has improved significantly in recent months, dropping from around ₦1,900 to the dollar to ₦1,250-₦1,300. This, he said, is already having a positive impact, with the price of locally-produced goods like flour coming down as businesses pay less for diesel fuel.
Join our twitter community :