Africa’s richest man, Aliko Dangote, has stated that petrol remains relatively affordable in Nigeria compared to other West African countries, despite widespread public complaints over soaring fuel prices.
Speaking on Thursday during the launch of the reconstruction of the Deep Sea Port Access Road in Lagos, Dangote argued that the perception of high fuel prices in Nigeria is misleading. He pointed out that petrol is sold for more than $1 (approximately ₦1,600) per litre across West Africa, while Nigerians pay below ₦900 in many areas.
“Some people here in Nigeria might think that petrol at less than ₦900 is expensive, but there is nowhere in West Africa where petrol is not selling above $1,” he stated.
He also noted a significant improvement in the fuel supply situation, saying, “The majority of fuel stations that were not working are now back to work; there is no more shortage, no more queues, and there will never be again.”
In a symbolic gesture, Dangote named the road leading to the Dangote Refinery after President Bola Ahmed Tinubu, acknowledging the president’s support for the refinery project and broader economic initiatives.
Petrol is currently sold between ₦800 and over ₦1,000 per litre across various parts of Nigeria.