The Dangote Petroleum Refinery has made a significant declaration, stating its capacity to meet the petroleum demands of the entire Economic Community of West African States (ECOWAS). This announcement was highlighted during a high-level visit by ECOWAS leaders, who lauded the 650,000-barrel-per-day facility as more than an engineering marvel, but a potent symbol of ambition, vision, and industrial self-reliance for Africa. The President of the ECOWAS Commission, H.E. Dr Omar Alieu Touray, described the refinery as a "beacon of hope for Africa’s future" and a clear testament to what the private sector can achieve in driving regional industrialisation.

Dr. Touray, leading a delegation that included key ECOWAS commissioners and directors, expressed profound optimism after touring the state-of-the-art facility located in the Lekki Free Zone, Lagos. "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," he remarked. He praised Aliko Dangote for his trust and vision for Africa, emphasizing that such endeavors should be encouraged. "We have seen something I couldn’t have imagined, and really the capacity in all areas is impressive," Touray added.

A critical aspect of the Dangote Refinery's contribution is its production of fuel to Euro V standards. Dr. Touray noted that this is crucial for the ECOWAS region to meet its 50 parts per million (ppm) sulphur limit for petroleum products. This standard is often not met by many imported fuels, which pose significant 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," Touray pointed out, underscoring the refinery's role in elevating regional fuel quality and environmental responsibility.

The ECOWAS Commission President strongly advocated for the private sector to take the lead in the region's industrialisation efforts. He emphasized that the time is ripe for ECOWAS to pursue an industrial strategy capable of addressing deep-rooted challenges such as youth unemployment, poverty, and insecurity. "We often speak about poverty eradication and youth employment, but the government alone may not have the capacity to achieve these goals. Only the private sector can deliver the scale of impact required," Dr. Touray stated. He stressed the importance of listening to the private sector, understanding their challenges, and creating an enabling environment for them to thrive, calling this the "only realistic path to creating jobs and fostering genuine prosperity."

Aliko Dangote, President of the Dangote Group, who personally led the ECOWAS delegation on a detailed tour, elaborated on the journey of bringing the world's largest single-train refinery to life. He reiterated his firm stance that Africa's continued dependence on imported goods is unsustainable and actively hinders the continent's economic sovereignty. "As long as we continue importing what we can produce, we will remain underdeveloped," Dangote asserted. "This refinery is proof that we can build for ourselves at scale, to global standards." He also addressed skepticism, noting, "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 are here to see the reality for themselves."

The economic benefits of the refinery are already being felt. Dangote highlighted the significant reduction in diesel prices in Nigeria since the refinery commenced production. "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," he explained. This price drop has had a far-reaching positive impact, supporting industries, benefiting the mining sector, and providing vital relief to agriculture. Furthermore, Dangote pointed out that Nigerians are enjoying substantially lower petrol prices compared to neighboring 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% of what others in the region are paying for petrol," he stated, adding that further initiatives are planned to ensure Nigerians reap maximum benefits.

The ECOWAS Commission has pledged its full support to enable the Dangote Group to access wider markets within the ECOWAS region and potentially the entire African continent. Dr. Touray emphasized the need for stronger collaboration between governments and the private sector, stating, "We cannot continue to make decisions on behalf of the private sector from a distance." He urged other African nations to follow Nigeria's example by investing in large-scale industrial projects that serve the continent. This visit, coinciding with ECOWAS celebrating its 50th anniversary, underscored the community's renewed commitment to integrating the private sector into its strategic planning to foster sustainable development and economic independence across West Africa.