Aliko Dangote, the President of Dangote Refinery, announced that following the price cuts at the 650,000 barrels per day refinery, Nigeria’s premium motor spirit price is now 55% lower than the average fuel pump price in West Africa.
This revelation was made in a statement on Sunday after a visit by a delegation led by Dr. Omar Touray, the President of the Economic Community of West African States Commission.
Dangote emphasized that Nigerians are benefiting from reduced petrol prices due to local refining, in contrast to their neighbors. He also highlighted the importance of the region moving away from fuel imports and shifting towards local production.
“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 stated.
On his part, Touray lauded Dangote for the trust reposed on the continent by building the refinery.
“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,” Touray was quoted in the statement.
