The President of Dangote Group, Aliko Dangote, has disclosed that Nigerians are now paying just 55% of what other West African nations pay for Premium Motor Spirit (PMS), popularly known as petrol—thanks to the local production at his 650,000-barrel-per-day Dangote Refinery.

Speaking during a high-profile visit by the President of the ECOWAS Commission, Dr. Omar Touray, Dangote said the price of petrol in Nigeria currently stands between N815 and N820 per litre, while neighbouring countries pay as much as N1,600 per litre (approximately $1). He noted that this significant price difference is largely due to the operational commencement of the Dangote Refinery, which has reduced the nation’s dependence on imported fuel.

“Most Nigerians don’t realise they are paying only 55% of what others in the region pay for fuel,” Dangote said, according to a Sunday statement from the company. “This refinery is for Nigerians, and they will get maximum benefits from it.”

Dangote emphasized that local refining is already delivering tangible economic benefits across multiple sectors. Citing diesel as an example, he recalled how the refinery slashed diesel prices from N1,700 to N1,100, leading to cost relief in industries such as agriculture and mining.

He stressed the strategic importance of intra-African trade and urged regional collaboration to reduce dependency on foreign imports. “As long as we keep importing what we can produce, Africa will remain underdeveloped,” he warned.

Dangote took the ECOWAS delegation on a comprehensive tour of the facility, which he described as the world’s largest single-train refinery. He reaffirmed the refinery’s capability to meet both Nigeria’s fuel demands and those of the entire West African region, countering earlier claims of insufficient production.

“In fact, the ECOWAS officials are here to see the reality for themselves,” Dangote said. “This visit should inspire other African countries to embark on large-scale, transformational industrial projects.”

Dr. Touray hailed the refinery as a symbol of African potential and a powerful example of what the private sector can achieve. “This visit gives me hope. It shows that Africa has the capacity for world-class industrialisation,” he stated.

He praised the refinery for meeting Euro V standards with a sulphur content of 50 parts per million (ppm), unlike many substandard imported fuels that pose health and environmental risks across the region.

“We are still importing below-standard fuel products. Yet here is a regional company—Dangote—that meets and exceeds international specifications,” Touray added, calling on the private sector to lead ECOWAS’s industrial transformation.

Touray urged stronger collaboration between African governments and industrialists, saying policy must be shaped by real-world challenges and private sector input. “We cannot continue making decisions for the private sector without hearing from them. This visit is part of that effort,” he said.

The ECOWAS Commission, he added, is committed to supporting infrastructure that serves the entire continent and pledged to open up regional markets to the Dangote Group and other African businesses.

Touray concluded: “We congratulate Alhaji Dangote for believing in Africa. We will support the refinery to expand across ECOWAS and beyond.”

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