Aliko Dangote, the President of the Dangote Group, has shared that most Nigerians don’t realise they’re paying much less for petrol than their West African neighbours around 55% less, in fact.
During a recent visit by Dr Omar Touray, President of the ECOWAS Commission, to the massive 650,000-barrels-per-day Dangote Refinery, Dangote revealed that his refinery is already helping to reduce fuel prices. The refinery currently sells petrol between ₦815 and ₦820 per litre, far cheaper than the regional average of ₦1,600 per litre (or $1).
“Many Nigerians aren’t aware of just how much they’re saving,” he said. “Petrol here is almost half the cost of what others in West Africa are paying.”
Diesel Prices Also Slashed
Dangote also highlighted how his refinery slashed diesel prices last year, dropping them from ₦1,700 to ₦1,100 almost overnight. That cut had a ripple effect across the economy, lowering costs for industries, miners, and especially farmers.
“The price cuts gave serious relief to many sectors, especially agriculture. The impact has been massive,” he said.
A Game Changer for Nigeria and West Africa
Dangote led the ECOWAS delegation on a detailed tour of the refinery and explained the huge effort behind building what’s now the world’s largest single-train refinery. He used the opportunity to push for more regional trade and industrial self-reliance.
“As long as we keep importing things we can produce, we’ll stay underdeveloped. This refinery proves we can build at world-class scale,” he added.
He also addressed claims that the refinery couldn’t meet local demand, let alone export.
“There’s been talk that we can’t even meet Nigeria’s needs. But now the ECOWAS team is here they’ve seen the scale and capability for themselves.”
“Built for Nigerians”
Dangote assured Nigerians that the refinery was built with them in mind.
“This is your refinery. It’s made for you, and you will enjoy its full benefits,” he said, also hinting at a bigger project still under wraps.
ECOWAS Boss: “This Is Africa’s Future”
Speaking after the tour, ECOWAS President Dr Touray praised the refinery as a symbol of hope and proof of what African businesses can achieve.
“What I’ve seen here today gives me real hope,” he said. “If you’ve ever doubted Africa’s potential, just visit this place.”
He noted the refinery’s petrol meets the high Euro V environmental standard, unlike much of the fuel currently imported into West Africa, which poses health and environmental risks.
“Why are we still importing low-quality products when a regional company like Dangote can meet and exceed the standards?” he asked.
Time to Back African Industry
Touray stressed the need for closer ties between governments and the private sector, saying African leaders must listen more to business voices to shape policies that truly work.
“We can’t keep making decisions from afar. Visits like this help us understand the real challenges and needs of African businesses,” he said.
As ECOWAS marks its 50th anniversary, Touray promised to support companies like Dangote Group to access larger regional markets and called on other countries to follow Nigeria’s example by investing in infrastructure that serves the continent.
“We’ll do everything we can to open up the ECOWAS market for the Dangote Group and others like it,” he declared.
Delegation in Attendance
The ECOWAS team included:
- Sediko Douka, Commissioner for Infrastructure, Energy and Digitalisation
- Prof. Nazifi Darma, Commissioner of Internal Services
- Dr Tony Elumelu, Director of Private Sector/SME
- Abdou Kolley, Chief of Staff to the ECOWAS President