₦airaland Forum

The President of the Dangote Group, Aliko Dangote, has revealed that most Nigerians are unaware that they currently pay 55 per cent of what other West African countries pay for Premium Motor Spirit (petrol).

Dangote also said his refinery had aided the reduction of fuel prices by selling petrol between N815 and N820 per litre.

The billionaire businessman stated this during a high-level visit to the 650,000 barrels-per-day facility by the President of the Economic Community of West African States Commission, Dr Omar Touray, and his team, according to a statement by the Dangote Group on Sunday.

Noting that Africa will benefit greatly by encouraging trade among its countries, Dangote stressed how the refinery has helped Nigeria to bring down the cost of refined products and production costs across many sectors of the economy.

“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.


Dangote disclosed that the refinery has “a much larger initiative in the pipeline, something we’ve not yet announced.” He told Nigerians to know that “this refinery is built for them, and they will enjoy the maximum benefit from it.”

Dangote, who led the ECOWAS delegation on a detailed tour of the facility, explained the challenges and milestones involved in bringing the world’s largest single-train refinery to life. He reiterated his longstanding position that Africa’s continued dependence on imported goods was unsustainable, as it hindered economic sovereignty.

“As long as we continue importing what we can produce, we will remain underdeveloped. This refinery is proof that we can build for ourselves at scale, to global standards,” it was stated.

He noted that the Dangote refinery is fully equipped to meet the petroleum needs of Nigeria and the entire West African region, countering claims that the facility could not produce enough for local and regional demand.

“There have been many claims suggesting that we don’t even produce enough to meet Nigeria’s needs, so how could we possibly supply other West African countries? But now, they (ECOWAS officials) are here to see the reality for themselves and, more importantly, to encourage other nations to embark on similarly large-scale industrial projects,” he said.

Dangote emphasised that price reduction was a direct result of local refining, which he said continued to improve fuel affordability while enhancing energy security and reducing dependence on imports.

In his comments, the ECOWAS Commission President reportedly declared the refinery a beacon of hope for Africa’s future and a clear demonstration of what the private sector can achieve in the drive for regional industrialisation.

[b]"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,” [/b]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.

Touray said the time was ripe for the region to pursue an industrial strategy capable of addressing deep-rooted challenges such as youth unemployment, poverty, and insecurity.

He pledged the commission’s full support for enabling regional giants such as the Dangote Group to access wider ECOWAS markets and urged other African nations to follow Nigeria’s example by building infrastructure that serves the continent, not just individual countries.

“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 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 Dr Touray’s Chief of Staff, Abdou Kolley, among others.

Source: https://punchng.com/Nigerias-petrol-price-55%-below-West-African-average-Dangote

This statement is a strategy to high the price in no distant time.

Nigerians are in all round trouble, i see no help coming from anywhere for the masses.

Nigeria’s petrol price should naturally be lower than any nation that’s not producing crude.

Naso.
If them leave only dangote and Nigerians, I no sure say Nigerians go get ribs again.

What is the minimum wage of those countries, are they producing crude oil. Very stupid comparison.

Before Nigerians can enjoy good petroleum price and be free from inflows of bandits , the Nigerians border must be secured first, border security is very important

Always comparing price never income, electricity, strength of currency or standard of living.

It's always the cost they compare to other countries 🙄🙄

Lol

Great

Oga stop this West-African comparison. Let’s compare our past indices with the present as a nation. That should tell us whether we are growing /developing or not. You can’t be taking first position in your class, only for you to take 20th in that same class and not feel bad about it, but instead find solace in the fact that even at 20th position, you are still better than your friends in the street who took from 30th and above.


The goal in life should always be to be better than your former self and not any other person despite the dwindling state of the economy. How do you guys even go to bed at night with all these useless statements ?

Of course it should be like that

https://www.youtube.com/watch?v=50VS7IxUsRc

Egg is now #300, make una de cap 🧢 nonsense.....if these guys know the number of Nigerians dying on a daily,they won't say this BS that the economy is getting better..prices are still increasing

VaginaAcademic:
What is the minimum wage of those countries. Very stupid comparison.

West African countries do not have tangible minimum wages...leave that aspect

Dango Dango. His wealth doubled in the last 2years selling petrol and co. Cool business.

Not bad...

Not again

The people who do comparisons like this should always consider other factors too.

What's SA minimum wage and what's Nigeria's?

Furthermore, a simple Google search would have helped him.
Does South Africa subsidize petrol?:
"Yes, South Africa does subsidize fossil fuels, including petrol, to help manage price volatility and protect consumers."

Ok we should pay more when you’ve depleted the purchasing power of Nigerians…
Wehdone to this terrible government 👍

Our minimum wage is also well below other countries. Useless Dangote

if we have stable power supply few will be bothered if fuel increases by 55%

AI summary:

Here's a simple summary of the article:

🛢️ What Dangote Said:

Aliko Dangote, Africa’s richest man, says the price of petrol in Nigeria is 55% cheaper than in other West African countries, thanks to his Dangote Refinery.

🏭 Why This Matters:

Dangote’s refinery, located in Lagos, started producing fuel in 2024.

It reduces Nigeria’s need to import fuel, which used to be expensive and caused fuel shortages.

With local refining, petrol prices have dropped significantly.


💬 Dangote’s Point:

He emphasized that Nigeria now has cheaper petrol because it produces its own through his refinery — while other West African countries still import fuel at higher costs.

💡 In Simple Terms:

Thanks to the new refinery, petrol is now much cheaper in Nigeria compared to neighboring countries. This helps reduce costs for Nigerians and improves fuel availability.

Some countries do succeed without oil
God pls help us out this frustration and calamity

Another justification for increament

All this our leaders are just insulting Nigerians with their comments whenever they are opportune to speak on a platform as if the suffering they subjected us into is not enough.
How many of this countries have functional refinery and major producer of crude like this country? Majority of our neighboring countries are using Cefa which is higher than Naira at exchange rate and their petrol price is not up to 900cefas in their various countries.

How much is our minimum wages?
Citizen are not benefitting anything from government even civil servant can't afford a luxury car, to build personal house is huge task.

They're quick to compare the ones that is convenient for for them how about the other ones. Like good governance, like minimum wage, like standard of living, like death penalty for corrupt politicians?

Dangote the masses greatest enemy

Now compare the average minimum wage and electricity generation/distribution