On June 2, 2025, Aliko Dangote, President of the Dangote Group, announced that Nigerians pay 55% less for petrol compared to the West African regional average, with prices at the Dangote Refinery ranging between N815 and N820 per litre, against $1 (approximately N1,600 at N1,579/$1) elsewhere. Speaking during a visit by ECOWAS Commission President Dr. Omar Touray to the 650,000 barrels-per-day refinery, Dangote highlighted the facility’s role in slashing fuel costs, noting a diesel price drop from N1,700 to N1,100 per litre since production began last year, with further reductions ongoing. At the current exchange rate of N1,579/$1, the petrol price savings equate to about $0.49 per litre.
Dangote emphasized that local refining has lowered production costs across sectors like agriculture, mining, and industry, enhancing Nigeria’s economic resilience. He refuted claims that the refinery cannot meet local demand, asserting its capacity to supply Nigeria and West Africa while reducing import dependency. “As long as we import what we can produce, we’ll remain underdeveloped,” he said, advocating for industrial self-sufficiency. The refinery, the world’s largest single-train facility, aligns with Dangote’s vision of boosting intra-African trade and economic sovereignty.
Hinting at unannounced future projects, Dangote assured Nigerians that the refinery is built for their benefit, enhancing fuel affordability and energy security. Posts on X, such as from @MobilePunch, echo praise for the price reductions, though some, like @Naija_PR, question distribution challenges. The ECOWAS visit underscores the refinery’s regional significance, with Dangote urging other African nations to pursue similar large-scale projects to drive development.
