The Dangote Petroleum Refinery has once again reduced the price of petrol, dropping its ex-depot (gantry) price from N828 to N699 per litre.
According to real-time market data from Petroleumprice.ng, the refinery slashed the benchmark price of Premium Motor Spirit by N129, representing a 15.58% decrease.
An official of the refinery, who confirmed the adjustment to PUNCH Online on the condition of anonymity, simply stated “The refinery has reduced petrol gantry price to N699 per litre.”
The latest cut, which took effect on December 11, 2025, marks the 20th petrol price review by the refinery this year, a reflection of ongoing efforts to stabilise domestic fuel costs.
This reduction comes just days after refinery chairman Aliko Dangote reaffirmed his commitment to ensuring petrol remains “reasonable and competitive” despite global oil market fluctuations and continued smuggling across Nigeria’s borders.
Speaking after a closed-door meeting with President Bola Tinubu on December 6, Dangote said fuel prices would keep dropping as the refinery increases output and competes more aggressively with imported petrol.
He explained “Prices are going down… we have to also compete with imports.”
While noting improvements, he added that smuggling remains a challenge, “Smuggling has reduced, not totally. There is still quite a lot of smuggling because the price in Nigeria is about 55% lower than in neighbouring countries.”
Dangote stressed that the refinery is taking a long-term approach, “We are not here to make our $20 billion back quickly; it’s a long-term investment.”
Market reports show that private depots have begun adjusting their prices in response to the new Dangote rate: Sigmund Depot – down by N4 to N824 per litre, Bulk Strategic – reduced by N3, TechnoOil – one of the biggest drops with N15, A.A. Rano, NIPCO, and Aiteo – also made slight reductions
The price shift is the latest sign of the growing impact of local refining on Nigeria’s downstream market.
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