LAGOS - Aliko Dangote, Africa’s richest man and the president of the Dangote Group, says Nigerians are currently paying just over half of what their West African neighbours spend on petrol — thanks in large part to his newly operational refinery.

Speaking during a high-profile visit by the Economic Community of West African States (ECOWAS) Commission President, Dr. Omar Touray, to the Dangote Refinery in Lagos, the billionaire industrialist noted that the average petrol price in neighbouring countries hovers around $1 per litre — equivalent to over ₦1,600 — while Nigerians now pay between ₦815 and ₦820 per litre.

“Many Nigerians don’t even realise they’re paying just 55% of what other West African countries are paying for petrol,” Dangote said during the tour of the 650,000 barrels-per-day facility.

The Dangote Refinery, which has begun delivering refined fuel locally, is being hailed as a turning point for Nigeria’s energy sector and a critical player in the region’s broader push for industrial self-reliance.

Dangote said local refining has already yielded massive cost savings for consumers and industries alike. “When we started producing diesel, we slashed prices from ₦1,700 to ₦1,100 instantly. It didn’t just help motorists — it impacted mining, manufacturing, agriculture. These sectors are now breathing easier,” he explained.

He dismissed skepticism about the refinery’s capacity to meet local demand, saying, “People say we can’t even meet Nigeria’s needs. Well, they can come and see for themselves. We’re not just refining for Nigeria; this is a pan-African project.”

Dangote used the occasion to repeat a long-held view: that Africa’s reliance on imported goods undermines the continent’s economic potential. “So long as we keep importing what we can produce, we will not progress. This refinery shows we can build world-class infrastructure by ourselves.”

He hinted at future expansion plans still under wraps and urged Nigerians to see the refinery as a national asset: “This was built for the people. And the people will be the biggest beneficiaries.”

Dr. Omar Touray, leading the ECOWAS delegation, was visibly impressed. “What I’ve seen today fills me with hope. Anyone who doubts Africa’s potential should come here,” he said.

He described the facility as a “beacon of what African industrialisation should look like” and a clear signal that the private sector must play a central role in shaping the region’s future.

Touray also praised the refinery for producing fuel at Euro V standards, far superior to many imported fuels that fail to meet ECOWAS’s environmental requirements. “We’re still importing low-grade fuels with high sulphur content while a facility like this can meet and exceed our standards. That has to change.”

Touray emphasized the need for direct engagement with industry leaders like Dangote to shape smarter regional policy. “We can’t keep making decisions for the private sector from a distance. Visits like this help us understand the realities on the ground.”

With ECOWAS celebrating its 50th anniversary, he said the organisation is committed to unlocking the full potential of African industries and pledged support to open regional markets for African companies.

The ECOWAS Commission President called on other African countries to take a page from Nigeria’s playbook by building infrastructure that serves the continent as a whole. “What Dangote has done here is not just for Nigeria — it’s for Africa. We must follow suit.”

Touray concluded by reaffirming the Commission’s support for the Dangote Group’s regional expansion, stating, “ECOWAS will do everything to ensure this refinery and others like it gain access to the broader African market.”

The visiting ECOWAS delegation included key figures such as Commissioner for Infrastructure, Energy and Digitalisation, Sediko Douka; Internal Services Commissioner, Prof. Nazifi Darma; Director of Private Sector and SME, Dr. Tony Elumelu; and Dr. Touray’s Chief of Staff, Abdou Kolley.


By WafricNews Desk.