Aliko Dangote, President of the Dangote Group, recently highlighted that Nigerians are paying significantly less for petrol compared to their West African neighbours.
During a visit by ECOWAS Commission President Dr. Omar Touray to the Dangote Refinery, Dangote stated that while the average petrol price in neighbouring countries is about $1 per litre (approximately ₦1,600), the refinery sells petrol domestically at ₦815 to ₦820 per litre. This means Nigerians are paying just 55% of what others in the region are paying for petrol.
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Dangote attributed this price reduction to local refining, which enhances fuel affordability, strengthens energy security, and reduces reliance on imports.
He emphasised that the refinery is fully equipped to meet Nigeria’s petroleum needs and has the capacity to serve the entire West African region.
The Dangote Refinery, with a capacity of 650,000 barrels per day, is the largest single-train refinery in the world. Its operations have already led to significant reductions in fuel prices within Nigeria, providing economic relief to consumers and supporting various sectors such as agriculture and mining
