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1 month ago
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- Nigerians are paying the slightest for petrol successful West Africa, arsenic prices successful the portion amusement monolithic disparity successful 2025
- Other countries specified arsenic Ghana, Sierra Leone, Mali, Guinea, and others wage arsenic precocious arsenic N3,600 per litre, portion Nigeria pays arsenic small arsenic N870
- Chairman of the Dangote Refinery, Aliko Dangote, confirmed that petrol prices successful Niger are 55% cheaper
Legit.ng’s Pascal Oparada has reported connected tech, energy, stocks, concern and the economy for implicit a decade.
Petrol prices successful West African countries amusement a monolithic disparity successful 2025, with Nigeria having the lowest outgo astatine $0.55 oregon N870 per litre.
Despite substance subsidy removal successful 2023, Nigeria’s increasing refining capacity, particularly the monolithic Dangote Refinery, has helped to stabilise prices.
Source: UGC
Mali, Sierra Leone, and others wage precocious for petrol
In opposition to different West African countries specified arsenic Mali and Sierra Leone, wherever petrol imports person continued, petrol prices person soared, widening the terms spread and reshaping household spending and determination substance commercialized dynamics.
According to information by Petroleumpriceng, Nigeria is starring different African countries with affordability.
In West Africa, countries with weaker currencies person seen their prices jump, particularly those paying for imports successful dollars.
Ghana remains supra the $2 per litre threshold contempt substance argumentation reforms.
FX and ostentation interaction petrol prices
Reports accidental Sierra Leone and Mali, which grapple with ostentation and fiscal challenges, proceed to grounds immoderate of the highest substance prices successful Sub-Saharan Africa, crossing N2,600 per litre successful Nigerian currency.
Experts accidental that arsenic home depletion grows, countries specified arsenic Ghana and Senegal research refinery upgrades, portion Nigeria focuses connected sustaining section proviso and distribution.
They accidental that unless West Africa increases refining infrastructure oregon improves forex liquidity, the quality successful affordability whitethorn continue, making Nigeria an outlier successful determination energy pricing.
Top 10 West African countries and their prices
- Nigeria: N870 per litre
- Liberia: N2,123.51 per litre
- Togo: N2.624.77 per litre
- Benin Republic: N2.630.22 per litre
- Ivory Coast: N3,375.43 per litre
- Burkina Faso: N3,343.74 per litre
- Mali: N3,993.47
- Senegal: N3,660.68
- Ghana: N3,201.11
- Guinea: N3,502.21
Dangote compares petrol prices successful West Africa
The improvement follows a connection by the Chairman of the Dangote Group, Aliko Dangote, that Nigerians pay 55% less for petrol than successful different African countries.
He disclosed this erstwhile helium welcomed Omar Touray, the President of the Economic Community of West African States Commission (ECOWAS), to its refinery installation connected Sunday, June 1, 2025.
Source: Getty Images
In a connection released aft the visit, Dangote spoke connected the value of the refinery to West Africa and however it has already helped trim petrol prices successful Nigeria to betwixt N815 and N820 per litre from the precocious of N1,000 per litre.
Depot owners, Dangote Refinery reduces petrol prices
Legit.ng earlier reported that depot owners successful Lagos have reduced the terms of Premium Motor Spirit (PMS), commonly known arsenic petrol.
The terms changes springiness small anticipation for little petrol prices astatine filling stations.
As of Monday, May 26, 2025, the mean terms of petrol declined marginally astatine respective terminals, according to petroleumprice.ng reports.
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Source: Legit.ng
