The Dangote Petroleum Refinery has once again lowered its petrol gantry price, cutting the ex-depot rate from N828 to N699 per litre.
According to real-time market data on Petroleumprice.ng, the refinery’s latest reduction slashed the Premium Motor Spirit benchmark by N129 per litre, representing a 15.58 per cent drop.
An official at the refinery, speaking to PUNCH Online on condition of anonymity, confirmed the adjustment, stating, “The refinery has reduced petrol gantry price to N699 per litre.”
The new pricing took effect on December 11, 2025, marking the 20th petrol price adjustment by the refinery this year. This comes just five days after refinery Chairman Aliko Dangote reiterated his commitment to maintaining “reasonable and competitive” domestic fuel prices despite global market fluctuations and ongoing smuggling along Nigeria’s borders.
After a closed-door meeting with President Bola Tinubu on December 6, Dangote said the refinery’s increased output would drive prices down, allowing it to compete directly with imported fuel. He noted that smuggling has decreased somewhat but remains a challenge, given that Nigerian fuel prices are about 55 per cent lower than those in neighboring countries.
Dangote emphasized that the refinery aims to offer petrol and diesel at fair prices, describing the $20 billion project as a long-term investment rather than a short-term profit venture.
Dangote said, “Prices are going down. The reason why prices have to go down is that we have to also compete with imports.
“But luckily for us now, the smuggling has reduced, not totally.
“There is still quite a lot of smuggling because the price we have in Nigeria is about 55 per cent lower than the price of our neighbouring countries.”
The billionaire said petroleum products (diesel and petrol) “will continue to be sold in the market at a very reasonable price”.
“We are not here to make our $20 billion back quickly; it’s a long-term investment,” Dangote said.
The market responded quickly to the refinery’s revision, with several private depots adjusting their prices. Sigmund Depot lowered its ex-depot price by N4 to N824 per litre, Bulk Strategic cut by N3, and TechnoOil implemented a sharper N15 reduction. Other depots, including A.A. Rano, NIPCO, and Aiteo, also slightly adjusted their rates in line with the new Dangote pricing structure.
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