The President/Chief Executive Officer of Dangote Industries Limited, Aliko Dangote, has explained why petrol remains expensive in Nigeria despite the country’s large-scale refining capacity and its status as a major crude oil producer.

Dangote attributed the high price of petrol in Nigeria mostly to the continuous smuggling of the commodity to neighbouring countries where it sells for much more despite the surge in prices in Nigeria.

Dangote made this known during an exclusive interview with Arise Television on Tuesday, September 15, 2026.

The comment comes on the heels of the recent increase of the gantry price of petrol by Dangote Petroleum Refinery from ₦1,265 to ₦1,350 per litre, effective September 12, amid elevated international crude and petroleum product prices.

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What he is saying

Dangote argued that the question of the high price of petrol in Nigeria is relative when compared to the price of the commodity in neighbouring countries.

He said that despite petrol being expensive in Nigeria, it still costs 30% to 50% more in these neighbouring countries, thereby encouraging smuggling from those traders for instant return.

When asked why petrol is still expensive in Nigeria, Dangote said, ‘’The expensive is relative in the sense that today, there is ignorance too, what they need to do is to ask what is the neighbour’s price. I don’t know whether you know there is still a lot of smuggling of the same petrol we are producing to our neighbouring countries.

‘’Those neighbouring countries are about 30% to 50% more expensive than in Nigeria. So it’s not actually like-for-like. People can now go and ask, what is the price, even now, at N1,350, the price in Niger is 20%, 25% more than in Nigeria.

So what business are you going to do that will make you have an instant 25% return? So it means that you will take the risk to go and take it across the border, you pretend that you are taking it to Sokoto, and you go and just take it to Ilela and you sell.’’