Nigeria’s Petrol Now 55% Cheaper Than West Africa Average, Says Dangote

Aliko Dangote, Africa’s richest industrialist and President of the Dangote Group, has revealed that Nigerians are currently paying just 55% of the average petrol price in West Africa, thanks to the company’s local refining operations.

During a facility tour by ECOWAS Commission President Dr Omar Touray and his delegation, Dangote stated that petrol prices in Nigeria currently range between ₦815 and ₦820 per litre, compared to an average of ₦1,600 per litre across neighbouring countries — a direct result of domestic fuel production at the 650,000 barrels-per-day Dangote Refinery in Lagos.

Diesel and Petrol Prices See Sharp Drop Since Refinery Launch

According to Dangote, the refinery has not only reduced petrol costs but has also slashed diesel prices from ₦1,700 to ₦1,100 in a matter of months.

“This reduction has made a significant impact across sectors—especially mining, logistics, and agriculture. It’s a game-changer for industries that depend heavily on fuel,” Dangote said.

He emphasized that many Nigerians are unaware of how much they are saving compared to their regional peers.

ECOWAS President: ‘This Is What Africa Needs’

Dr Omar Touray, President of the ECOWAS Commission, described the refinery as “a beacon of hope” for African industrialisation. He noted that the project proves what the private sector can achieve when backed by vision and trust in Africa’s potential.

“Everyone who doubts Africa’s capacity needs to visit this refinery. It shows what private African businesses can build — not just for one country, but for the whole region,” Touray said.

He also commended the refinery for producing Euro V-compliant fuel, noting that many imported petroleum products in Africa fail to meet ECOWAS health and environmental standards, particularly the 50ppm sulphur limit.

Call for Industrial Cooperation Across Africa

The visit comes as ECOWAS celebrates its 50th anniversary, and Dr Touray used the opportunity to call for closer collaboration between governments and Africa’s private sector.

“Policy decisions must reflect the challenges and realities faced by industrial players like Dangote. We must stop making policies from a distance,” he stressed.

He pledged ECOWAS support for helping Dangote Group access wider regional markets, adding that Africa must begin building infrastructure that serves the continent, not just individual countries.