Dangote Says Nigeria’s Petrol Price Is 55% Lower Than West African Average

Aliko Dangote, President of the Dangote Group, has disclosed that Nigerians pay just 55% of what other West African nations spend on petrol—thanks in part to output from the Dangote Refinery.

He noted that the refinery now supplies petrol at N815–N820 per litre, contributing to lower fuel costs nationwide.

Speaking during a visit by ECOWAS Commission President Dr. Omar Touray, Dangote highlighted the refinery’s role in reducing Nigeria’s production and energy costs, and called for stronger intra-African trade to unlock the continent’s economic potential.

“Last year, when we began diesel production, we were able to reduce the price from N1,700 to N1,100 at a go, and as of today, the price has crashed further. This reduction has made a significant impact across various sectors. It has supported industries, benefited those of us in mining, and provided vital relief to the agricultural sector. The effect has been far-reaching,” he said.

He also noted that Nigerians are benefiting from local refining as the price of petrol has dropped significantly compared to neighbouring countries.

“In neighbouring countries, the average price of petrol is around $1 per litre, which is N1,600. But here at our refinery, we’re selling at between N815 and N820. Many Nigerians don’t realise that they are currently paying just 55 per cent of what others in the region are paying for petrol,” he noted.

Aliko Dangote revealed that an even larger, unannounced initiative is underway, reinforcing his message that the refinery was built for the benefit of Nigerians.

Leading ECOWAS officials on a tour of the facility, Dangote outlined the challenges behind constructing the world’s largest single-train refinery. He reaffirmed that Africa’s dependence on imports stifles development and that local production is key to true economic independence.

“This refinery proves we can build world-class infrastructure ourselves,” he said, dismissing doubts about its capacity to meet both national and regional fuel demands. He attributed recent price drops to local refining, which he said boosts affordability and energy security.

ECOWAS Commission President Dr. Omar Touray praised the refinery as a beacon of hope and a powerful example of what African private enterprise can achieve.

“What I have seen today gives me a lot of hope, and everybody who doesn’t believe in Africa should come here. Visiting here will give you more hope because this is exactly what our continent should focus on.

“We have seen something I couldn’t have imagined, and really, the capacity in all areas is impressive. We congratulate Alhaji Dangote for this trust in Africa because I think you do this only when you have the trust, and he has a vision for Africa, and this is what we should all work to encourage,” Touray was quoted.

 The ECOWAS leader had noted that the refinery, which produces fuel to Euro V standard, is critical for enabling the ECOWAS region to meet its 50ppm sulphur limit for petroleum products – a standard he said many imported fuels fail to meet, posing health and environmental risks across member states.

“We are still importing products below our standard when a regional company such as Dangote can meet and exceed these requirements. The private sector must take the lead in ECOWAS industrialisation,” he advised.

 The ECOWAS Commission President used the visit to call for stronger collaboration between governments and the private sector, stressing that policy decisions must reflect the real challenges and opportunities experienced by African industrialists.

 “We believe our visit also serves as an opportunity to hear directly from Mr Dangote, about what the private sector expects from the ECOWAS community,” Touray explained, noting that as ECOWAS celebrates its 50th anniversary, the community is more committed than ever to bringing the private sector to the table, to listen to their perspectives, and to understand how best to create an environment that works for them.

“We cannot continue to make decisions on behalf of the private sector from a distance. Visits like this provide us with first-hand experience and direct insight into the challenges they face—challenges that authorities and government officials must work to address,” he added.

ECOWAS Commission President Dr. Omar Touray called for a bold industrial strategy to tackle the region’s core issues—youth unemployment, poverty, and insecurity. He pledged ECOWAS’s full backing for regional leaders like the Dangote Group to access broader West African markets.

Touray also encouraged African nations to invest in infrastructure that supports continental growth, not just domestic interests.

“Once again, I congratulate the Dangote Group and commit that the ECOWAS commission will do everything to open up the ECOWAS market for them, if not the entire African continent,” he declared.

The high-level delegation included ECOWAS 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, among others.