From Sule Aliyu, Bauchi
Dangote Petroleum Refinery has reduced the price of diesel from N1600 to N1,000 per litre in order to assist in impacting Nigeria’s domestic economy.
Speaking to newsmen shortly after a closed-door meeting with the Gombe state Governor, at government house Gombe, the president of Dangote Group, Alh. Aliko Dangote said that the move was a patriotic gesture that will effectively lower transportation costs and subsequently reduce food prices because of the widespread impact of diesel on everyday commodities
He cited transportation as a significant contributor to the high cost of goods, particularly in urban centres, stating that slashing its price, will help reduce financial burdens on consumers and foster economic stability.
He explained, “It (the reduction in diesel price) is just to demonstrate that we are very patriotic and when we look at it, the business affects the lives of everybody.”
“To produce anything, the major cost is diesel, so, when we looked at it, I said we should try and bring down the cost. Because people who have held on to the business for a very long time were profiteering and we decided that we can afford to sell diesel at N1,000 per litre,” he added.
“It is about a 60 per cent drop; areas like here (Gombe), Borno, Bauchi and the rest, it was selling between N1,700 to N1,800 but right now, I am sure in the next few days, you will not buy diesel at more than N1,100 per Ltr”, he said.
Turning to his visit to Gombe government house, Aliko Dangote indicated his company’s readiness to take advantage of Gombe State’s favourable business environment to establish a presence there.
He noted that Gombe State, under the leadership of Governor Inuwa Yahaya, has provided a good template for his company, maintaining that the time is ripe to take full advantage of the huge limestone, coal, and gypsum deposits in the Gombe state and commence cement manufacturing.
He told reporters that Governor Inuwa Yahaya has provided the necessary investment atmosphere and infrastructures needed to attract and keep manufacturing companies functioning to the maximum capacity, especially with the setting up of the Muhammadu Buhari Industrial Park, which he described as a novel project that can propel Gombe State to economic prosperity.
Dangote used the forum to praised Governor Inuwa Yahaya’s business acumen and his pragmatic governance style, saying” although the government has no business in investment endeavours, the Gombe State Governor has been exemplary in his investment drive.”
“I commend Governor Inuwa Yahaya for doing his best in terms of laying down the policy framework for a good investment environment”, Aliko Dangote said.
He added “ We have had fruitful discussions on our investment plans with the Governor. Gombe State should be one of the highest producers of cement in the country.”
“It is one of the very lucrative areas for us in terms of cement production. The State has a location advantage.; it is close to Borno and other Northeastern States as well as Cameroon and so on,” he added.
According to him, “So if we produce 20% of what we need here, it will be about the cheapest instead of bringing them over here from other locations. So if we have the opportunity to do so we will start production here.”
Earlier while receiving Africa’s richest man, Alh Aliko Dangote, Governor Inuwa Yahaya painted a compelling picture of Gombe as a prime destination for investment and economic prosperity, highlighting its remarkable business-friendly environment as well as its status as the best state in Ease of Doing Business in Nigeria.
He also emphasised Gombe’s abundance of solid mineral resources as well as the impressive infrastructure, including the sprawling 1000-hectare Muhammadu Buhari Industrial Park situated near the 40-megawatt Dadinkowa power plant.
The Governor said that this strategic location not only offers ample space for industrial expansion but also ensures access to reliable power supply, a crucial factor for sustained industrial operations.
He also highlighted the centrality of Gombe State in the North East subregion, serving as a commercial nerve centre with a peaceful atmosphere, positioning the state as an attractive destination for investors seeking stability and growth opportunities
