The President of Dangote Refinery, Alhaji Aliko Dangote, has stated that the price of premium motor spirit in Nigeria is now 55 percent below the West African average fuel pump price.
Aliko Dangote disclosed this in a statement on Sunday after meeting with a high-level delegation led by the President of the Economic Community of West African States Commission, Dr. Omar Touray, at Dangote Refinery.
He said that Nigerians are enjoying the benefits of local refining that has occassioned petrol price reduction compared to neighbouring ECOWAS countries.
Aliko Dangote, therefore, emphasized the need for the region to move away from Importation of fuel and embrace local refining.
“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 percent of what others in the region are paying for petrol,” he said.
The leader of the delegation, Touray, commended Dangote for establishing the refinery.
He said: “We congratulate Alhaji Dangote for this trust in Africa because I think you do this only when you have the trust, and he has a vision for Africa, and this is what we should all work to encourage.”
Dangote Refinery’s latest price reduction in May 2025 brought down retail prices to N875 and 895 per litre in Lagos and Abuja.
