While speaking at a media briefing on Monday, 15th September,2025 in Lagos, the Africa’s richest man, Aliko Dangote, has announced a major breakthrough in Nigeria’s fuel market as the Dangote Petroleum Refinery cut petrol prices by ₦259 per litre within one year of its operations.
He revealed that the pump price of petrol, which peaked at about ₦1,100 per litre in 2024, has now dropped to an average of ₦841 across Lagos, Abuja, Rivers, Delta, Edo, Kwara, and other parts of the South-West.
“Despite opposition and economic headwinds, the refinery has successfully reduced the price of petrol from nearly ₦1,100 before production began to ₦841. With the rollout of CNG-powered trucks, this price reduction will soon be felt nationwide,” Dangote said.
According to him, the 650,000 barrels-per-day facility, Africa’s largest has also deployed 1,000 Compressed Natural Gas (CNG) with the powered trucks under a direct fuel distribution programme expected to create 24,000 jobs in its first phase.
Dangote disclosed that the refinery’s capacity would rise to 700,000 bpd by 2026, with production sufficient to meet domestic demand while generating foreign exchange through exports. Between June and early September alone, the plant exported over 1.1 billion litres of petrol.
Backing the federal government’s vision of transforming Nigeria into a $1 trillion economy by 2031, Dangote urged Nigerians to channel more investments locally. He noted that Nigeria’s decades-long fuel supply crisis had effectively been brought to an end.
“We have been battling fuel queues since 1975, but today Nigerians are witnessing a new era. What we have done is to make our country and continent proud,” he declared.
The business mogul, while acknowledging resistance from vested interests in the downstream sector, maintained that the refinery’s mission was to drive growth across Nigeria and Africa.
