The Dangote Petroleum Refinery has once more lowered its petrol gantry rate, dropping the ex-depot price from N828 to N699 per litre.
Real-time data on Petroleumprice.ng on Friday indicated that the refinery carried out another significant price cut, reducing the Premium Motor Spirit benchmark by N129 per litre — a 15.58 per cent decrease.
A refinery official, who spoke to PUNCH Online anonymously because he was not permitted to comment publicly, also confirmed the change.
He said, “The refinery has reduced petrol gantry price to N699 per litre.”
The revised price became effective on December 11, 2025, representing the refinery’s 20th petrol price adjustment this year.
This latest cut comes barely five days after the refinery’s Chairman, Aliko Dangote, reiterated his pledge to keep local fuel prices “reasonable and competitive” despite global instability and ongoing smuggling at Nigeria’s borders.
After a closed-door meeting with President Bola Tinubu on December 6, Dangote noted that prices would continue to decline as the refinery boosts production and competes more strongly 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.”
The billionaire added that 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 watchers on Petroleumprice.ng also recorded new reductions across several private depots following the refinery’s latest adjustment.
According to the platform, Sigmund Depot cut its ex-depot rate by N4 to N824 per litre, while Bulk Strategic posted a smaller drop of N3. TechnoOil registered one of the steepest cuts with a N15 reduction.
Other depots, such as A.A. Rano, NIPCO and Aiteo, were likewise noted to have made slight adjustments as the market responded to the updated Dangote pricing model.
