Nigerians pay just 55% of what West Africans spend on petrol - Dangote
Aliko Dangote, President of the Dangote Group, has said that Nigerians are paying only 55 percent of what their counterparts in other West African countries pay for petrol — thanks to local refining at the Dangote Refinery.
Speaking during a visit by Omar Touray, President of the ECOWAS Commission, Dangote said the refinery is already having a positive impact on fuel prices and national energy security.
“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,” Dangote said.
“Many Nigerians don’t realise that they are currently paying just 55% of what others in the region are paying for petrol.”
He said the refinery was built with Nigerians in mind and promised more benefits to come:
“We also have a much larger initiative in the pipeline, something we’ve not yet announced but Nigerians should know that this refinery is built for them, and they will enjoy the maximum benefit from it.”
Dangote linked the price drop to domestic refining, highlighting its role in reducing dependency on fuel imports:
“As long as we continue importing what we can produce, we will remain underdeveloped,” he said.
“This refinery is proof that we can build for ourselves at scale, to global standards.”
Addressing concerns about production capacity, he noted:
“The refinery is fully equipped to meet the petroleum needs of Nigeria and the entire West African region… But now, they are here to see the reality for themselves and, more importantly, to encourage other nations to embark on similarly large-scale industrial projects.”
He further noted that the refinery’s production has already had a tangible impact, particularly with diesel:
“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.”
Dangote concluded by urging Africa to embrace intra-continental trade and value addition, describing his refinery as a model of economic self-sufficiency for the continent.
