According to a report by The Punch on Tuesday, September 15, 2026, president of Dangote Group, Aliko Dangote, has attributed the high pump price of petrol in Nigeria to cross-border smuggling, revealing that the product sells for significantly higher in neighbouring countries.
Speaking during an Arise TV interview on Tuesday, Dangote explained that petrol prices in adjacent nations are between 30 and 50 percent higher than in Nigeria.
This massive price gap, according to him, creates an irresistible financial incentive for smugglers to divert domestic fuel allocations out of the country.
He cited Niger Republic as a clear example, where fuel sells at a 20 to 25 percent premium over local prices.
“What business are you going to do that will make you have an instant 25 per cent return?” Dangote questioned, describing how trucks ostensibly bound for border states like Sokoto are routinely diverted to Ilela and pushed across the border for quick profits.
Beyond local pricing dynamics, the industrialist warned that escalating conflict in the Middle East could soon trigger a global energy crisis, shifting the problem from product cost to actual availability.
“And the problem now, going forward, I must also warn that this crisis in the Middle East is not even about price; it’s about availability,” Dangote stated.
Despite these international tensions, Dangote assured Nigerians that his mega refinery in Lagos is fully equipped to prevent domestic scarcity.
He affirmed that the facility will maintain consistent delivery to satisfy the Nigerian market and eliminate fuel queues across the country.
COURTESY: StanDailyScripts
