The President of the Dangote Group, Aliko Dangote, has said that Nigerians currently pay just 55 per cent of what others in the region are paying for premium motor spirit (PMS), popularly known as petrol.
Dangote made the statement during a visit to the 650,000 barrels-per-day facility by the President of the Economic Community of West African States Commission, Dr Omar Touray, and his team.
”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 per cent of what others in the region are paying for petrol.
“We also have a much larger initiative in the pipeline, something we’ve not yet announced, but Nigerians should know that this refinery is built for them, and they will enjoy the maximum benefit from it,” he said.
Dangote emphasised that the price reduction was a direct result of local refining, which continues to improve fuel affordability while enhancing energy security and reducing dependence on imports.
The President of the Economic Community of West African States Commission, Dr. Omar Touray, visited the 650,000 barrels-per-day facility and praised the refinery as a beacon of hope for Africa’s future.
“What I have seen today gives me a lot of hope, and everybody who doesn’t believe in Africa should come here.
“Visiting here will give you more hope because this is exactly what our continent should focus on.”
“We have seen something I couldn’t have imagined, and really, the capacity in all areas is impressive.
“The private sector must take the lead in ECOWAS industrialisation, ” he stated.
Touray called for stronger collaboration between governments and the private sector, stressing that policy decisions must reflect the real challenges and opportunities experienced by African industrialists.
“We cannot continue to make decisions on behalf of the private sector from a distance, ” he said.
Touray pledged the Commission’s full support for enabling regional giants such as Dangote Group to access wider ECOWAS markets and urged other African nations to follow Nigeria’s example by building infrastructure that serves the continent, not just individual countries.
