Dangote Refinery Reduces Petrol Price to N699 Per Litre

The Dangote Petroleum Refinery has announced a decrease in its petrol gantry price from N828 to N699 per litre, representing a reduction of N129 (15.58%) in the benchmark price of Premium Motor Spirit. This change, effective December 11, 2025, marks the refinery’s 20th adjustment to petrol pricing this year, as reported by Petroleumprice.ng.

A source from the refinery, who wished to remain unnamed, confirmed this new price, stating it underscores the company’s dedication to providing affordable fuel. The decision follows a meeting between Dangote and President Bola Tinubu, during which Dangote indicated that prices would continue to decline as the refinery boosts production and competes with imported fuel.

Dangote acknowledged that while smuggling has decreased to some extent, it continues to pose a challenge, given that fuel in Nigeria remains around 55% cheaper than in nearby countries. He reiterated that the refinery aims for sustained market presence rather than short-term profits, assuring that prices for petrol and diesel will remain reasonable.

In light of Dangote’s price reduction, various private depots have also adjusted their rates. Sigmund Depot decreased its ex-depot price by N4 to N824 per litre, Bulk Strategic by N3, and TechnoOil by N15. Other depots, including A.A. Rano, NIPCO, and Aiteo, have made minor price adjustments in response to the new pricing from Dangote.

This price reduction illustrates Dangote Refinery’s strategy to stabilize domestic fuel prices amid global market variability and challenges related to smuggling at the borders.