The Dangote Petroleum Refinery has once again lowered its petrol gantry price, reducing the ex-depot rate from ₦828 to ₦699 per litre.
Market figures posted on Petroleumprice.ng on Friday showed that the refinery implemented a fresh downward adjustment, slashing the benchmark Premium Motor Spirit price by ₦129 per litre, a reduction of about 15.6 per cent.
A refinery official, who confirmed the development to PUNCH Online on condition of anonymity, said, “The refinery has reduced petrol gantry price to ₦699 per litre.” The new rate became effective on December 11, 2025, and marks the 20th petrol price revision announced by the refinery this year.
The latest cut comes just five days after the refinery’s Chairman, Aliko Dangote, reiterated his commitment to ensuring fuel prices remain “reasonable and competitive” despite global market swings and ongoing fuel smuggling across Nigeria’s borders.
Speaking after a closed-door meeting with President Bola Tinubu on December 6, Dangote noted that local fuel prices would continue to fall as the refinery increases output and competes more aggressively with imported products.
“Prices are going down, and they must continue to go down because we also have to compete with imports,” he said.
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He added that although smuggling has reduced, it persists due to Nigeria’s pump prices being much lower than those of neighbouring countries.
“The price in Nigeria is about 55 per cent lower than in surrounding nations,” he stated.
Dangote further assured that petrol and diesel would continue to be sold at “very reasonable prices,” stressing that the refinery is focused on long-term value rather than quick recovery of its $20 billion investment.
Following the refinery’s latest price cut, several private depots also adjusted their petrol prices downward. Data from Petroleumprice.ng showed that Sigmund Depot reduced its ex-depot price by ₦4 to ₦824 per litre, Bulk Strategic trimmed its price by ₦3, while TechnoOil implemented one of the steepest reductions with a ₦15 cut.
