Aliko Dangote, President of the Dangote Group, says Nigerians currently pay 55% less for petrol than citizens in other West African countries—thanks to his refinery’s local refining operations.
Speaking during a visit by ECOWAS Commission President Dr Omar Touray to the 650,000 barrels-per-day Dangote Refinery, Dangote said petrol is being sold locally at ₦815–₦820 per litre, while the regional average stands at about $1 per litre (₦1,600).
“Many Nigerians don’t realise that they’re paying almost half the price their neighbours are paying for petrol. That’s the impact of refining locally,” Dangote stated.
He also noted the dramatic reduction in diesel prices since the refinery began production—from ₦1,700 to ₦1,100, significantly easing pressure across industries, agriculture, and mining.
Dangote emphasized that Africa must reduce its reliance on imports to achieve real development. “This refinery is proof we can build at global scale and standard. As long as we import what we can produce, we remain underdeveloped,” he said.
Countering doubts about the refinery’s capacity, Dangote said the facility is fully equipped to meet Nigeria’s demand and can serve the entire West African region.
He hinted at a bigger, undisclosed initiative in the works, promising that Nigerians would continue to reap long-term benefits from the project.
