Dangote Refinery Cuts Petrol Price to N699 Per Litre

The Dangote Petroleum Refinery has once again slashed its petrol gantry price, reducing the ex-depot rate from N828 to N699 per litre.

Real-time market data from Petroleumprice.ng on Friday showed the refinery implemented a significant downward review, cutting the Premium Motor Spirit benchmark price by N129 per litre  a 15.58% reduction.

A refinery official, who requested anonymity because he was not authorised to speak publicly, confirmed the adjustment, stating, “The refinery has reduced petrol gantry price to N699 per litre.” The new price took effect on December 11, 2025, marking the refinery’s 20th petrol price adjustment this year.

The latest reduction comes just five days after the refinery’s Chairman, Aliko Dangote, reaffirmed his commitment to keeping domestic fuel prices “reasonable and competitive” despite global market volatility and persistent smuggling along Nigeria’s borders.

Following a closed-door meeting with President Bola Tinubu on December 6, Dangote said prices would continue to decline as the refinery scales up production and competes with imported products. “Prices are going down. The reason why prices have to go down is that we have to also compete with imports,” he said. “Smuggling has reduced, though not completely. There is still a lot of smuggling because the price in Nigeria is about 55 per cent lower than in neighbouring countries.”

He added that petroleum products, including diesel and petrol, “will continue to be sold in the market at a very reasonable price,” noting that the $20 billion facility is a long-term investment rather than a quick-profit venture.

Market monitors on Petroleumprice.ng also recorded fresh reductions across several private depots following the refinery’s latest review. According to the platform, Sigmund Depot reduced its ex-depot price by N4 to N824 per litre, while Bulk Strategic made a marginal N3 cut. TechnoOil implemented one of the steepest reductions with a N15 decrease. Other depots such as A.A. Rano, NIPCO, and Aiteo were also observed making slight adjustments as the market aligned with the new Dangote pricing template.