By Next Year Nigeria will Be Highest Exporter Of Cement - Dangote.
The Dangote Refinery and Petrochemical Complex, along with the commissioning of deep-sea concrete roads and other infrastructure projects that you graciously approved, is a testament to your visionary leadership. I must emphasize that the Dangote Petroleum Refinery Complex is, in many ways, your brainchild. The site for this industrial complex was established during your tenure as governor of Lagos, and today, your Excellency, you are witnessing the tangible fruits of that vision.
When we were in the car, I asked you whether you ever envisioned this kind of industrial complex when you were promoting the free trade zone, and your response was no. However, because you are a visionary leader, I can assure you that what you have seen today is just the beginning. Your administration's most transformative initiative, the historic Naira for Crude policy, stands as a clear testament to our commitment to economic recovery and national sovereignty. This bold policy has enabled us at Dangote Petroleum Refinery to reduce product prices while guaranteeing availability for the overall benefit of Nigerians.
I understand that some people in Nigeria might think that petrol priced below 900 NRA is expensive, but it's important to note that there is nowhere in West Africa where petrol sells for less than $1, which is approximately 1,600 Naira. This initiative has significantly stabilized the prices of petrol, diesel, jet A, LPG, and polypropylene to their lowest levels ever. This development has also contributed to the stabilization of our currency, which is crucial for economic policy and business budgeting.
Additionally commendable is the Nigeria First policy recently introduced by your administration, which aims to drastically reduce reliance on foreign goods and services by prioritizing local patronage in investment decisions, business operations, and consumption habits. This aligns with our group's corporate vision of producing what we consume to promote self-sufficiency in meeting the basic needs of our people. Your Excellency, we understand that importation leads to the importation of poverty and the export of jobs. This reinforces your Nigeria First vision. Without this initiative, it would be very challenging for us to align with your vision. In the U.S., they have an "America First" policy, but here in Africa, you are the first to say "Nigeria First." This is highly commendable, and we are ready to partner with the federal government of Nigeria under your leadership in this regard and in other areas of our national needs.
As the Assaju of Nigeria and Africa, I want to remind you of our past discussions. I previously referred to you as Assured You of Nigeria, and now I stand before you as Assured You of Nigeria and Africa. You have truly led from the front, delivering the dividends of democracy to the people. From your inaugural address in May, where you made the courageous policy pronouncement to remove the costly fuel subsidy, you have directed a team of technocrats—some of whom are acknowledged here, including the distinguished Mr. President—to execute these reforms with clarity and purpose.
Your leadership has been both decisive and reassuring, reigniting hope for a prosperous Nigeria both today and in the future. From the very start of your administration, you have worked tirelessly to foster an enabling environment for private sector-led growth. This vision has given rise to far-reaching reforms, including the removal of fuel subsidies, the deregulation of the downstream petroleum sector, increased crude oil production, unification of the Naira exchange rate, the presidential CNG initiatives, and the ongoing comprehensive overhaul of the tax regime. I believe that once people start experiencing the benefits of your proposed tax regime, they will come to Aso Rock to express their gratitude for creating such impactful policies.
The Dangote Group will be investing approximately 900 billion Naira into eight infrastructural projects, including the deep-sea concrete road and a pay road that you are commissioning today. These projects cover a total of 500 kilometers across Nigeria, including two roads in Borno State that will link Borno with Chad and Cameroon. We thank you, Your Excellency.
The industrial complex is one of the several key initiatives led by the Dangote Group in support of the federal government's agenda, which is focused on economic development and self-sufficiency.
