Dangote: Nigerians Pay Nearly Half the Petrol Price of Neighboring Countries, Thanks to Local Refining

Nigerians are now paying just 55% of what neighboring countries spend on petrol, thanks to the game-changing operations of the Dangote Refinery.

Aliko Dangote made this bold revelation during a landmark ECOWAS visit, spotlighting the refinery as a symbol of Africa’s capacity for industrial self-reliance and economic transformation.

Aliko Dangote, President of the Dangote Group, has revealed that Nigerians are currently paying only 55% of what residents in neighboring West African countries spend on petrol, thanks to the operations of the newly commissioned Dangote Refinery. He made this known during a high-profile visit by a delegation from the Economic Community of West African States (ECOWAS) to the state-of-the-art facility in Lagos.

The ECOWAS Commission delegation was led by its President, Dr Omar Alieu Touray, and included top officials such as Commissioner for Infrastructure, Energy and Digitalization, Sediko Douka; Commissioner for Internal Services, Prof. Nazifi Abdullahi Darma; Director of Private Sector and SME, Dr Tony Luka Elumelu; and Chief of Staff, Hon. Abdou Kolley. The group toured the massive refinery complex, guided personally by Aliko Dangote, who took the opportunity to showcase the achievements and scale of the project.

Dangote used the occasion to underline the importance of self-sufficiency in Africa, criticizing the continent’s continued dependence on imports. He emphasized that sustainable development and economic independence can only be achieved through domestic production and value addition. “As long as we continue importing what we can produce, we will remain underdeveloped,” Dangote stated. “This refinery is a clear message that Africa has the capacity to build world-class infrastructure.”

Speaking on the impact of the Dangote Refinery, the industrialist said that the local availability of refined petrol has already led to a significant reduction in fuel prices across Nigeria. According to him, while petrol prices average $1 per liter (approximately ₦1,600) in neighboring countries, the same product is being sold for between ₦815 and ₦820 at the refinery.

“Many Nigerians may not realize it, but they are currently paying only 55% of what others in the West African region are paying for petrol,” Dangote explained. “And this is just the beginning. We have more initiatives in the pipeline that will deepen the benefits for Nigerians and the entire continent.”

He also addressed widespread misconceptions that the refinery might not have enough capacity to meet even Nigeria’s demand, let alone serve the wider West African market. Dangote dismissed those concerns, stating, “People doubted us. They said we couldn’t even produce enough for Nigeria. Today, these ECOWAS leaders are seeing the reality for themselves that this refinery can serve not just Nigeria, but the entire region.”

The refinery, which has a production capacity of 650,000 barrels per day, is currently the largest single-train refinery in the world and is designed to meet Euro V standards. This makes it one of the few facilities in Africa capable of producing low-sulphur fuels that meet international environmental and health regulations.

Dangote also cited a practical example of the refinery’s impact, noting that when diesel production began last year, the market price dropped significantly from ₦1,700 to ₦1,100 almost immediately, with further reductions seen since then. “This had an enormous ripple effect across industries like mining and agriculture,” he said. “It brought down operating costs and gave relief to sectors that were struggling under high fuel prices.”

In his remarks, ECOWAS Commission President Dr Omar Alieu Touray praised the Dangote Refinery as a transformational project for Africa. He described it as a symbol of what is possible when private sector vision and investment align with regional goals for industrialization and self-sufficiency.

“This facility is beyond impressive it’s inspiring,” Touray said. “For anyone who doubts Africa’s potential, a visit here is all the proof they need. Dangote has shown us what belief in Africa and investment in Africa can look like.”

He further stressed the importance of the refinery’s ability to produce to international standards, especially in meeting ECOWAS’s 50ppm sulphur content limit. “While many of our countries are still importing substandard petroleum products, this refinery is delivering clean fuel that meets our regional environmental standards,” Touray noted.

He concluded by calling on other African nations and entrepreneurs to emulate the Dangote model, encouraging greater intra-African trade and investment in local industries.

“This is the way forward. The private sector must take the lead if ECOWAS and Africa are to reach their industrial potential,” Touray declared.