Aliko Dangote, President of Dangote Industries Limited, has commended President Bola Tinubu for what he described as bold economic reforms, including the removal of the fuel subsidy and liberalisation of the foreign exchange market.
Dangote spoke on Monday at the Nigerian Exchange in Lagos during the formal launch of the Initial Public Offering of Dangote Petroleum Refinery and Petrochemicals.
The business leader praised Tinubu’s leadership and said the Dangote Refinery remained committed to supporting the administration’s efforts to strengthen Nigeria’s economy.
“I want to thank him for taking a lot of bold steps by removing the subsidy and democratising the exchange rate…” Dangote said.
He said the Dangote Group would continue working with the government to contribute to Nigeria’s development and broader economic 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.
Dangote, a former president of the Nigerian Exchange, also expressed surprise at the transformation of the stock market, saying he had not expected the exchange to attain 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.
He added that a larger ceremony would be held with President Tinubu in attendance.
The Dangote Refinery IPO opened on Monday with an offer of 4.1 billion new ordinary shares at ₦525 per share. The minimum subscription is 10 shares, valued at ₦5,250.
The offer is scheduled to close on October 13, 2026, subject to the terms of the prospectus.
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