The Dangote Petroleum Refinery has slashed its petrol gantry price, reducing the ex-depot rate from N828 to N699 per litre, a 15.58 per cent drop.
Real-time market data from Petroleumprice.ng on Friday confirmed the refinery’s latest adjustment, marking a N129 per litre reduction in the Premium Motor Spirit (PMS) benchmark price.
An official of the refinery, speaking on condition of anonymity, confirmed the price cut, stating: “The refinery has reduced petrol gantry price to N699 per litre.”
The new rate took effect on December 11, 2025, and is the 20th petrol price adjustment announced by the refinery this year. The reduction comes just five days after Dangote Petroleum’s Chairman, Aliko Dangote, reaffirmed his commitment to keeping domestic fuel prices “reasonable and competitive” amid global market volatility and ongoing smuggling along Nigeria’s borders.
Following a closed-door meeting with President Bola Tinubu on December 6, Dangote said the refinery would continue to reduce prices as output ramps up and competes with imported products.
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He added, “Prices are going down. The reason why prices have to go down is that we have to also compete with imports. Smuggling has reduced, though it has not stopped entirely, because fuel prices in Nigeria remain about 55 per cent lower than neighbouring countries.”
Dangote reassured the public that petroleum products, including diesel and petrol, would remain reasonably priced, emphasizing the long-term nature of the $20 billion refinery investment.
Market watchers on Petroleumprice.ng also reported further reductions among private depots in response to Dangote’s new pricing. Sigmund Depot lowered its ex-depot price by N4 to N824 per litre, Bulk Strategic dropped N3, while TechnoOil posted a sharper N15 decrease. Other depots, including A.A. Rano, NIPCO, and Aiteo, also slightly adjusted their rates to align with the refinery’s pricing template.
