The Dangote Petroleum Refinery has lowered its petrol gantry price once again, bringing the ex-depot rate down from N828 to N699 per litre.
Data from Petroleumprice.ng on Friday showed that the Premium Motor Spirit (PMS) benchmark was reduced by N129 per litre, representing a 15.58 per cent decrease. An official from the refinery, speaking on condition of anonymity, confirmed the price adjustment.
“The refinery has reduced petrol gantry price to N699 per litre,” the official said.
The new price came into effect on December 11, 2025, marking the 20th adjustment to petrol prices by the refinery this year. This latest reduction follows statements from Dangote Refinery Chairman, Aliko Dangote, emphasizing his commitment to keeping domestic fuel prices competitive despite global market fluctuations and cross-border smuggling.
Speaking after a private meeting with President Bola Tinubu on December 6, Dangote explained that prices would continue to drop as the refinery increases output and competes with imported products.
“Prices are going down. We have to remain competitive with imports. Fortunately, smuggling has reduced somewhat, though it’s not completely eliminated,” Dangote said. “Currently, fuel prices in Nigeria are about 55 per cent lower than in neighboring countries.”
Dangote further stressed that petroleum products, including diesel and petrol, would continue to be sold at reasonable rates, noting that the refinery is a long-term $20 billion investment rather than a short-term profit venture.
Following Dangote’s announcement, other depots also adjusted their prices. Sigmund Depot reduced its ex-depot price by N4 to N824 per litre, Bulk Strategic lowered its price by N3, and TechnoOil implemented a N15 cut. A.A. Rano, NIPCO, and Aiteo also made slight adjustments in line with the new pricing.
