Dangote names refinery road after Tinubu, says petrol now 45% cheaper

Aliko Dangote has named the main road leading to the Dangote Refinery after President Bola Tinubu, citing the president’s longstanding contributions to the project and his administration’s support for private sector-led infrastructure.

The announcement was made on Thursday during the official commissioning of the Deep Sea Port Access Road, which connects the Dangote Fertiliser Plant to Eleko Junction in Lagos State.

Addressing President Tinubu directly at the event, Dangote said: “The Dangote refinery complex is in many ways your brainchild. Mr President, let me just say one thing — the main road going into our refinery is now going to be called Bola Ahmed Tinubu Road.”

He described Tinubu as a leader who has inspired investor confidence in a challenging economic environment. “Mr President, you are a very courageous leader. Please continue the great work you are doing. Thank you for your support and encouragement. Definitely, you should expect more, and you should see more, as this has given us the confidence to do more in supporting your government,” he added.

President Tinubu responded to the announcement with a handshake, drawing applause from dignitaries in attendance.

Dangote said the newly named access road is part of a wider network of infrastructure linked to the refinery, including over 500km of roads, two of which are in Borno State and will connect Nigeria to neighbouring countries Chad and Cameroon. The road also serves as a logistics corridor via Epe–Ijebu-Ode and links to the Sagamu–Benin Expressway.

Meanwhile, Dangote, in an earlier event, discussed the economic impact of the 650,000-barrel-per-day facility, which he said is already influencing local fuel prices and production costs across multiple sectors.
Speaking during a recent visit by ECOWAS Commission President Dr Omar Touray, Dangote noted that Nigerians are now paying significantly less for fuel than neighbouring countries due to local refining.

“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,” he stated.

According to Dangote, the effect of local refining extends beyond the pump.

“Last year, when we began diesel production, we were able to reduce the price from N1,700 to N1,100 at a go, and as of today, the price has crashed further. This reduction has made a significant impact across various sectors. It has supported industries, benefited those of us in mining, and provided vital relief to the agricultural sector,” he said.

The industrialist also responded to criticisms that the refinery may not be able to meet Nigeria’s full demand, much less supply other West African countries. “There have been many claims suggesting that we don’t even produce enough to meet Nigeria’s needs, so how could we possibly supply other West African countries? But now, they (ECOWAS officials) are here to see the reality for themselves,” he said.

Touray, who led a high-level delegation from the ECOWAS Commission, described the refinery as a benchmark for what private sector-led industrialisation could achieve on the continent. “What I have seen today gives me a lot of hope, and everybody who doesn’t believe in Africa should come here,” Touray said.

He pointed out that the refinery’s Euro V standard fuel helps ECOWAS meet its 50ppm sulphur emissions cap—an environmental standard not always met by imported fuels. “We are still importing products below our standard when a regional company such as Dangote can meet and exceed these requirements,” he said.

Touray called for increased collaboration between ECOWAS governments and the private sector, particularly on infrastructure and policy reforms that encourage investment. “We cannot continue to make decisions on behalf of the private sector from a distance. Visits like this provide us with first-hand experience and direct insight into the challenges they face,” he said.

As ECOWAS marks its 50th anniversary, Touray pledged stronger support for companies like the Dangote Group to access broader regional markets. “Once again, I congratulate the Dangote Group and commit that the ECOWAS Commission will do everything to open up the ECOWAS market for them, if not the entire African continent,” he declared.

The ECOWAS delegation included Commissioner for Infrastructure, Energy and Digitalisation, Sediko Douka; Commissioner of Internal Services, Prof. Nazifi Darma; Director of Private Sector/SME, Dr Tony Elumelu; and Chief of Staff to the Commission President, Abdou Kolley.