The Dangote Petroleum Refinery has once again reduced its petrol gantry price, bringing the ex-depot rate down from N828 to N699 per litre.
According to real-time market data on Petroleumprice.ng, the refinery’s latest cut lowered the Premium Motor Spirit benchmark by N129 per litre, a 15.58 per cent reduction. An official of the refinery, who spoke to PUNCH Online on condition of anonymity, confirmed the adjustment, saying, “The refinery has reduced petrol gantry price to N699 per litre.”
The new price, effective December 11, 2025, marks the 20th petrol price adjustment announced by the refinery this year. This latest reduction comes just five days after Dangote restated his commitment to keeping domestic fuel prices “reasonable and competitive” despite global market volatility and persistent smuggling along Nigeria’s borders.
Speaking after a closed-door meeting with President Bola Tinubu on December 6, 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.”
He added, “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.”
Following the refinery’s adjustment, several private depots also reduced their ex-depot prices. Sigmund Depot cut its price by N4 to N824 per litre, Bulk Strategic reduced by N3, and TechnoOil recorded one of the sharpest drops with a N15 reduction. Other depots, including A.A. Rano, NIPCO, and Aiteo, also slightly adjusted their rates in line with Dangote’s new pricing.
