Photo caption: His Excellency, President Bola Tinubu; Founder, Dangote Group, Aliko Dangote; Chairman, Geregu Power PLC, Femi Otedola and Executive Chairman, Federal Inland Revenue Service (FIRS), Zacch Adedeji, at the state-of-the-art Main Control Room of the Dangote Petroleum Refinery & Petrochemicals, during the President’s tour of the facility, on Thursday, June 5, 2025.
*Hails Dangote’s “phenomenal” investment in Nigeria
*Dangote commends Tinubu’s economic reforms
President Bola Ahmed Tinubu has praised Aliko Dangote, Founder of the Dangote Group, for his unwavering belief in Nigeria and for making bold investments that have become a cornerstone in the country’s economic transformation.
Speaking during a high-profile tour of the Dangote Petroleum Refinery and Petrochemicals complex at the weekend — an event that also marked the official commissioning of the Deep Sea Port Access Road — the President described the refinery as “a remarkable achievement,” calling it “a phenomenal project of our time” and “a major point of reference for Nigeria’s industrial and economic growth.”
“Having inspected the Dangote Refinery, which is a great point of reference, a great phenomenon of our time, and a massive investment, I want to thank Aliko Dangote,” President Tinubu stated. “I am also pleased that the Deep Sea Port project, which I initiated during my tenure as Governor of Lagos State, has become a resounding success. It has significantly reduced logistics costs by eliminating the need for trans-shipment.”
The President also lauded the quality of infrastructure delivered under the Federal Government’s Tax Credit Scheme, specifically commending Dangote Industries Limited and its subcontractor, Hitech Construction Company Limited, for the delivery of the port access road.
Photo caption: His Excellency, President Bola Tinubu; Founder, Dangote Group, Aliko Dangote; Chairman, Geregu Power PLC, Femi Otedola and Executive Chairman, Federal Inland Revenue Service (FIRS), Zacch Adedeji, at the state-of-the-art Main Control Room of the Dangote Petroleum Refinery & Petrochemicals, during the President’s tour of the facility, on Thursday, June 5, 2025.
In a moment of tribute, President Tinubu described Dangote as the wisest mind in Nigeria’s economic landscape, citing his far-reaching investments and steadfast commitment to the country.
“I landed here with four wise men. I will say wise men,” Tinubu said. “Jim Ovia of reputable Zenith Bank, who has been acknowledged worldwide. Femi Otedola, my baby brother. Samad Rabiu of BUA. And I believe the wisest of them all, Alhaji Aliko Dangote, who is so daring in thinking, doing, and believing in his country.”
In his remark, Aliko Dangote acknowledged the positive impact of President Tinubu’s economic policies, crediting recent reforms for fostering a more conducive environment for industrial growth and long-term investment.
Dangote also expressed appreciation for President Tinubu’s ‘Nigeria First Policy’, which aims to significantly reduce dependence on foreign goods and services by prioritising local content in investment decisions, business operations, and consumer behaviour. He remarked that this policy aligns seamlessly with the Dangote Group’s corporate vision of producing what the nation consumes and fostering self-sufficiency to meet the basic needs of Nigerians.
“You have led from the front, delivering the dividends of democracy to the people. From your inaugural address in May 2023 – where you made the courageous decision to remove the costly fuel subsidy – you have directed a team of technocrats and reform-minded experts with clarity and purpose to execute these reforms. Your leadership has been both decisive and reassuring, and your actions have reignited hope for a prosperous Nigeria,” Dangote stated.
He also commended the administration’s significant improvements in national infrastructure through initiatives such as the Nigerian Road Infrastructure Development Fund and the Refurbishment Investment Tax Credit Scheme. He highlighted that under these schemes, eight major roads – including the Lekki-Epe corridor – have been awarded within the same cluster at a cumulative cost of N900 billion.
According to Dangote, the petroleum refinery is one of several strategic initiatives by the Dangote Group in support of the Federal Government’s Renewed Hope Agenda, which seeks to reposition Nigeria as a regional manufacturing hub.
“Our objective is to produce domestically those goods that have historically been imported, despite our abundant natural resources. It is on record that our investment in cement manufacturing made Nigeria self-sufficient in that sector, ending cement importation and turning the country into a net exporter. We achieved the same in fertiliser production as Nigeria is now self-sufficient and exports the surplus, thereby generating valuable foreign exchange. We have also commenced exportation of refined petroleum products to several countries, including the United States and Saudi Arabia, among others,” he added.
Dangote noted that the refinery offers extensive benefits to the Nigerian economy and its people, emphatically declaring that the days of long fuel queues are over in Nigeria.
He emphasised that the Dangote Petroleum Refinery and Petrochemicals Complex stands as a symbol not only of visionary achievement but also of the immense potential realised when private enterprise aligns with purposeful government leadership.
“We remain steadfast in our commitment to contributing meaningfully to Nigeria’s economic transformation, supporting your administration’s efforts to build a self-reliant, globally competitive nation. We have remained Nigeria’s highest tax paying company. With continued collaboration and shared resolve, we are confident that the journey ahead will usher in even greater opportunities for our people and our country,” Dangote concluded.
He also announced that the road leading to the state-of-the-art Dangote Petroleum Refinery & Petrochemicals will be named Bola Ahmed Tinubu Road, in honour of President Bola Ahmed Tinubu for his unwavering support of the private sector and credited him as the visionary behind the Free Trade Zone during his tenure as Governor of Lagos State.
“The Dangote refinery complex is, in many ways, your brainchild,” Dangote told the President. “Mr President, let me just say one thing — the main road leading into our refinery is now to be known as Bola Ahmed Tinubu Road.”
Dangote also revealed that, despite paying N450 billion in taxes last year, the Group is committed to spending N900 billion on road infrastructure across Nigeria.
According to Dangote, the Deep Sea Port Access Road is “one of eight major road projects totalling 500 kilometres, including two in Borno State that will eventually link Nigeria to both Chad and Cameroon.”
Dangote thanked the President for envisioning and implementing the Lekki Deep Sea Port project and assured him of the private sector’s support for expanding infrastructure nationwide
