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Dangote Says Nigeria’s Petrol Price Is 55 Percent Cheaper Than West African Average

Nigerians are currently paying about 55 percent less for petrol than most West African countries, according to Aliko Dangote, President of the Dangote Group. He made this revelation during a recent visit by the Economic Community of West African States (ECOWAS) Commission President, Dr. Omar Touray, to the Dangote Refinery.

During the tour of the 650,000-barrels-per-day facility, Dangote explained that while petrol in neighbouring countries sells for about $1 per litre (approximately ₦1,600), his refinery supplies it at just ₦815 to ₦820 per litre. He said many Nigerians are unaware of this major cost advantage, which is a direct result of local refining efforts.

Dangote also highlighted how the launch of local diesel production last year helped slash prices from ₦1,700 to ₦1,100 almost immediately. According to him, this price drop has positively impacted key sectors such as mining, agriculture, and transportation.

Speaking further, the billionaire noted that the refinery has silenced critics who doubted it could meet Nigeria’s fuel demand. He stressed that the facility is not only capable of serving Nigeria but also the entire West African region.

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He added that the success of the Dangote Refinery proves that Africa can build large-scale, world-class industrial projects on its own. “As long as we keep importing what we can produce, we will remain underdeveloped,” he said, urging other African nations to take similar steps toward industrial self-reliance.

ECOWAS Commission President Dr. Touray praised the refinery as a model for Africa’s future. He said it stands as a clear example of what private sector-led industrialisation can achieve in the region. He added that it aligns with ECOWAS’ goal to implement a regional fuel standard of 50ppm sulphur content, a level the Dangote Refinery already meets with its Euro V-grade products.

Touray expressed concern that many West African nations still import low-quality fuel, which poses health and environmental risks. He called on the ECOWAS member states to support local producers like Dangote and create enabling environments for them to thrive.

He said his visit provided valuable insight into the challenges and expectations of African industrialists and stressed the need for closer cooperation between governments and the private sector. Touray added that ECOWAS must actively engage with businesses to make policies that reflect real challenges and opportunities.

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As ECOWAS marks its 50th anniversary, Touray pledged the commission’s full support for enabling companies like Dangote to access wider regional markets. He urged other African countries to emulate Nigeria by building infrastructure that supports the entire continent, not just individual nations.

Touray concluded by saying that the region’s future industrial strategy should focus on solving pressing issues such as youth unemployment, poverty, and insecurity through projects like the Dangote Refinery.

The visiting delegation included ECOWAS officials such as the Commissioner for Infrastructure, Energy and Digitalisation, Sediko Douka; Commissioner of Internal Services, Prof. Nazifi Darma; Director of Private Sector/SME, Dr. Tony Elumelu; and Chief of Staff Abdou Kolley.

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