Dangote: Nigerians Pay 50% Less for Petrol
- Nigerians are paying considerably less for petrol than their West African neighbors, according to Aliko Dangote, president of the Dangote Group.
- Omar touray, Dangote explained that this price difference is due to local refining at the Lekki Free Trade zone facility.
- Dangote emphasized the importance of Africa focusing on internal production to foster development.
Aliko Dangote reveals Nigerians are benefiting from significantly lower petrol prices, paying approximately 50% less than other West African nations, thanks to local refining. The Dangote Refinery, producing at a world-class capacity, is selling petrol between ₦815 and ₦820 per liter, a stark contrast to the ₦1,600 equivalent in neighboring countries. This strategic move not only bolsters Nigeria’s energy security but also impacts diesel costs, benefiting key sectors. news Directory 3 sees this as a pivotal step toward reduced reliance on imports,positioning Nigeria to perhaps supply the West African sub-region with refined petroleum products. Discover what’s next in the ongoing shift in fuel prices.
Dangote: Nigerians Enjoy Lower Fuel Prices Thanks to Local Refining
Updated June 02, 2025
Nigerians are paying considerably less for petrol than their West African neighbors, according to Aliko Dangote, president of the Dangote Group. He stated that the Dangote Refinery is selling Premium Motor Spirit (petrol) at between ₦815 and ₦820 per liter, while citizens in countries like Benin Republic, Togo, and Ghana pay the equivalent of about ₦1,600 per liter.
During a visit by the ECOWAS Commission President, Dr. Omar touray, Dangote explained that this price difference is due to local refining at the Lekki Free Trade zone facility. The refinery’s production has already impacted diesel prices, which dropped from ₦1,700 to ₦1,100 per liter last year, benefiting industries, the mining sector, and farmers.
Dangote emphasized the importance of Africa focusing on internal production to foster development. He believes the refinery demonstrates the continent’s capacity to build world-class facilities and reduce reliance on imports, strengthening Nigeria’s energy security and potentially supplying the entire West African sub-region with refined petroleum products.
Addressing concerns about the refinery’s capacity, Dangote affirmed that the facility is built to world standards, processing 650,000 barrels of crude oil per day, making it the largest single-train refinery globally. He reiterated that the refinery is designed to meet domestic demand and create opportunities for export.
“Many Nigerians don’t realize that they are currently paying just 55 percent of what others in the region are paying for petrol,” Dangote said.
What’s next
The Dangote Refinery, with its full operations expected to deliver petrol, diesel, aviation fuel, and kerosene, aims to further reduce Nigeria’s dependence on imported petroleum products. Analysts suggest that sustained operations could be a turning point for Nigeria’s economy, potentially easing inflation and creating jobs through lower transportation and production costs.