According to Aliko Dangote, president of the Dangote Refinery, Nigeria’s premium motor spirit pricing is now 55% less than the average fuel pump price in West Africa as a result of the refinery’s price reductions of 650,000 barrels per day.

The wealthiest African revealed this in a statement on Sunday following a visit to his refinery by a high-level delegation headed by Dr. Omar Touray, President of the Economic Community of West African States Commission.

He asserts that, in contrast to their neighbors, Nigerians are benefiting from domestic refining as gas prices decline.

Dangote made this statement while emphasizing the necessity for the area to transition from importing fuel to producing its own.

“The average price of gasoline in neighboring nations is about $1 per liter, or N1,600.

However, we’re selling at our refinery for between N815 and N820. Many Nigerians are unaware that their current gas prices are only 55% of those of others in the region, he said.
By constructing the refinery, Touray praised Dangote for demonstrating his faith in the continent.

“I think you do this only when you have the trust,” Touray added, “and we congratulate Alhaji Dangote for this trust in Africa because he has a vision for Africa, and this is what we should all work to encourage.”

According to reports, retail rates in Lagos and Abuja dropped to N875 and N895 per liter following Dangote Refinery’s most recent price cut in May 2025.