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What Buhari said during inauguration of Dangote Refinery



What Buhari said during inauguration of Dangote Refinery

President Muhammadu Buhari said he was content to entrust Asiwaju Bola Tinubu and his staff with running the country’s economy.


He delivered his remarks at the newly opened Dangote Petroleum Refinery in Ibeju-Lekki, Lagos, on Monday.

The giant refinery being disclosed, according to the president, is a prime example of what can be accomplished when entrepreneurs are supported and encouraged, and when a climate is established that encourages investments and economic growth.

Also Read: S’Court receives fresh motion seeking to halt Tinubu’s inauguration

In order to speed up the pace of the country’s economic growth and development, Buhari said he was certain that Tinubu will maintain the improvement in the economic and business environment and strengthen the framework of public private partnership policies.

‘I am confident that my successor, His Excellency Asiwaju Bola Ahmed Tinubu, will sustain the improvement in our economic and business environment and strengthen the framework of our public private partnership policies to accelerate the pace of our economic growth and development.

‘‘I am happy to leave our economy in very competent hands.”


The President who commended Alhaji Aliko Dangote’s leadership in executing the 650,000 barrels per day refinery urged other entrepreneurs to emulate his example in driving economic growth and realizing Nigeria’s economic potential.

He stressed the need for African countries to come together, integrate their economies, eliminate trade barriers, and rally their populations to achieve Agenda 2063 for the continent’s prosperity.

‘‘I urge and encourage our other great entrepreneurs to emulate this iconic Nigerian industrialist and join the Government in accelerating our growth in order to realize our country’s globally recognized economic potential.

‘‘When I travel around Africa and meet and engage my brother Heads of State (and I am delighted some of their Excellences are here) I often sense a quiet expectation that our country is blessed with resources and human capacity to lead Africa’s rise to economic prosperity and the attainment of Agenda 2063 – ‘The Africa we all want.’

‘‘But to achieve the goals of Agenda 2063, Africa must come together – we must integrate our economies, eliminate barriers to trade and energize our youthful population to scale up our productive capacity.


‘‘We must create necessary conditions for our private sector to grow and partner with the public sector to accelerate economic growth across the continent.

‘‘We must not allow outside powers to use some of our leaders to destabilize our economic and political trajectory,’’ he said.

Buhari acknowledged that Nigeria’s economy has faced significant challenges over the years, including deficits in economic infrastructure, insurgency, and external crises such as the Global Financial Crisis, oil price collapses, the COVID-19 pandemic, and the Russia-Ukraine war.

‘The consequence of these challenges constitute a severe strain on our economy, limiting government’s ability to provide basic infrastructure without resorting to huge borrowings.

‘‘Our Government, therefore, took the decision to focus attention on creating an enabling environment for the private sector to thrive and fill the enormous gap in investments not only in infrastructure but also in all critical sectors.


‘‘We recognize that without the active participation of the private sector and a strong commitment to public private partnership, our economy would continue to remain severely challenged and our economic growth impeded.

‘‘Government therefore, will and should continue to provide an enabling environment and encourage innovative public private partnerships in all sectors of our economy,’’ he said.