Dangote Refinery Cuts Petrol Price To N699 Per Litre, Slashing N129 From Benchmark
The Dangote Petroleum Refinery has reduced its petrol gantry price again, bringing the ex-depot rate down from N828 to N699 per litre.
Data from Petroleumprice.ng on Friday showed that the refinery cut the Premium Motor Spirit benchmark by N129 per litre, a 15.58 per cent reduction. An anonymous refinery official confirmed the move to PUNCH Online, saying, “The refinery has reduced petrol gantry price to N699 per litre.”
The new rate, effective December 11, 2025, marks the 20th petrol price adjustment by the refinery this year. The reduction comes shortly after Chairman Aliko Dangote reaffirmed his commitment to keeping domestic fuel prices “reasonable and competitive,” despite global price fluctuations and ongoing smuggling along Nigeria’s borders.
Dangote, speaking after a closed-door meeting with President Bola Tinubu on December 6, explained that the price drop is part of efforts to compete with imported fuel. He noted that while smuggling has lessened, it remains an issue because Nigerian fuel costs about 55 per cent less than in neighboring countries. He added that petroleum products would continue to be sold at fair prices, stressing that the $20 billion refinery is a long-term investment.
Following the Dangote refinery’s adjustment, several private depots also lowered their prices. Sigmund Depot reduced its ex-depot price by N4 to N824 per litre, Bulk Strategic cut N3, and TechnoOil implemented a N15 drop. Other depots, including A.A. Rano, NIPCO, and Aiteo, made slight reductions in response to the new pricing benchmark.
