Dangote slashes petrol price to N699 per litre
Dangote Petroleum Refinery has again made adjustment to its petrol pricing, trimming the ex-depot rate from N828 to N699 per litre.
According to a fresh figures released on Friday by Petroleumprice.ng indicated that the refinery implemented a significant review, lowering the Premium Motor Spirit benchmark by N129 per litre, representing a 15.58 per cent drop.
A refinery official, who requested anonymity because he was not authorised to speak publicly, also confirmed the latest change.
He said, “The refinery has reduced petrol gantry price to N699 per litre.”
The new rate became effective on December 11, 2025, marking the refinery’s 20th petrol price review this year.
This adjustment comes less than a week after the refinery’s Chairman, Aliko Dangote, reaffirmed his pledge to keep local fuel prices “reasonable and competitive” amid global market fluctuations and ongoing smuggling across Nigeria’s borders.
Following a closed-door meeting with President Bola Tinubu on December 6, Dangote noted that further reductions should be expected as the refinery increases production capacity and competes more directly with imported fuel.
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 that petroleum products, including 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.
Market data from Petroleumprice.ng also showed that several private depots made fresh downward adjustments in response to the refinery’s new pricing.
According to the platform, Sigmund Depot cut its ex-depot price by N4 to N824 per litre, while Bulk Strategic implemented a N3 reduction. TechnoOil recorded one of the steepest cuts with a N15 drop.
Other depots such as A.A. Rano, NIPCO and Aiteo were also listed among those adjusting their rates as the market reacted to the updated Dangote template.
