The President of Dangote Group, Aliko Dangote, has said that Nigerians currently buy petrol at a much lower price than their neighbours in West Africa.
He revealed this during a visit by the President of the Economic Community of West African States Commission, Dr Omar Touray, and his team to the Dangote Refinery in Lagos.
“In neighbouring countries, the average price of petrol is about \$1 per litre, which is around ₦1,600. But here at our refinery, we’re selling at ₦815 to ₦820 per litre,” Dangote said.
He explained that this means Nigerians are paying just 55 per cent of what others in the region pay for petrol.
“Many Nigerians don’t realise the benefits they are enjoying now because of local refining. This refinery was built for Nigerians, and they will continue to benefit from it,” he added.
Dangote also hinted at a new initiative that the company is planning but has not yet made public.
He said the refinery, which has a capacity of 650,000 barrels per day, is already helping to reduce fuel prices, improve energy security, and cut down on fuel imports.
The President of the ECOWAS Commission, Dr Touray, praised the Dangote Refinery, calling it a symbol of hope for Africa and proof of what the private sector can achieve.
“What I have seen today gives me so much hope. Anyone who doubts Africa’s future should come here. This shows what our continent can truly do,” Touray said.
He added that the refinery meets Euro V fuel standards, which helps reduce health and environmental risks from poor-quality imported fuels.
“We are still importing fuels that don’t meet our standard, even when companies like Dangote can do better. It is time for the private sector to lead Africa’s industrial growth,” he said.
Touray used the visit to call on African governments to support businesses like Dangote Group. He said ECOWAS must work closely with the private sector to build a better future for the region.
“We should not make decisions for the private sector from afar. Visits like this help us understand their real challenges,” he said.
He also said that Africa needs a strong industrial plan to fight poverty, unemployment, and insecurity.
“The government alone cannot solve these problems. Only the private sector can create enough jobs and growth. We must listen to them and remove the barriers they face,” he added.
Touray promised that ECOWAS would continue to support big companies like Dangote Group to grow and reach more markets across West Africa.
In his remarks, Aliko Dangote spoke about the hard work and challenges involved in building the world’s largest single-train refinery.
The visit included top ECOWAS officials such as the Commissioner for Infrastructure, Energy and Digitalisation, Sediko Douka; the Commissioner of Internal Services, Nazifi Abdullahi Darma; Director of Private Sector/SME, Dr Tony Luka Elumelu; and the Chief of Staff to the ECOWAS President, Abdou Kolley.
