In a significant move, the Dangote Petroleum Refinery has once again lowered its petrol gantry price, decreasing the ex-depot rate from N828 to N699 per litre.
This latest adjustment, effective December 11, 2025, represents a substantial cut of N129 per litre, equating to a 15.58% reduction in the benchmark price of Premium Motor Spirit.
An official from the refinery, speaking on the condition of anonymity, confirmed the price reduction to PUNCH Online, stating, “The refinery has reduced petrol gantry price to N699 per litre.” This marks the 20th petrol price adjustment by the refinery in 2025 alone.
The recent decrease comes shortly after Aliko Dangote, Chairman of the refinery, reaffirmed his commitment to maintaining reasonable and competitive domestic fuel prices.
During a meeting with President Bola Tinubu on December 6, Dangote expressed optimism that prices would continue to decline as the refinery increases its output and competes with imported fuel products, despite facing challenges such as global market volatility and ongoing fuel smuggling issues along Nigeria’s borders.
This sustained effort by Dangote to stabilize fuel prices is seen as a responsible initiative to alleviate the financial burden on consumers and promote local production over imports.
“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.”
The billionaire said 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,” Dangote said.
Market trackers on Petroleumprice.ng also reported 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 also posted a marginal drop of N3. TechnoOil implemented one of the sharpest decreases with a N15 cut.
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