NEWS
Dangote Refinery Announces Major Petrol Price Slash to ₦699 Per Litre in 20th Adjustment of 2025, Triggering Fresh Reductions Across Depots Nationwide
The Dangote Petroleum Refinery has again reduced its petrol gantry price, slashing the ex-depot rate from ₦828 to ₦699 per litre, in what marks one of the refinery’s most significant downward adjustments this year.
Real-time market data published on Petroleumprice.ng on Friday showed that the refinery implemented another major downward review, cutting the Premium Motor Spirit benchmark price by ₦129 per litre, a 15.58 per cent reduction.
An official of the refinery, who spoke to reporters on condition of anonymity because he was not authorised to comment publicly, also confirmed the adjustment.
“The refinery has reduced petrol gantry price to N699 per litre,” He said.
The new price took effect on December 11, 2025, marking the 20th petrol price adjustment announced by the refinery this year, and strengthening its position as the leading driver of domestic fuel market recalibration.
The latest reduction comes barely five days after the refinery’s Chairman, Aliko Dangote, restated his commitment to keeping domestic fuel prices “reasonable and competitive” despite global volatility and persistent smuggling along Nigeria’s borders.
Speaking after a closed-door meeting with President Bola Tinubu on December 6, Dangote said prices would continue to fall as the refinery ramps up output and competes directly with imported products.
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 further assured that petroleum products, both diesel and petrol “will continue to be sold in the market at a very reasonable price.”
He added, “We are not here to make our $20 billion back quickly; it’s a long-term investment.”
Following the refinery’s latest review, market trackers on Petroleumprice.ng also reported fresh reductions across several private depots, indicating immediate ripple effects across the downstream sector.
According to the platform:
Sigmund Depot reduced its ex-depot price by ₦4, down to ₦824 per litre.
Bulk Strategic posted a marginal decrease of ₦3.
TechnoOil implemented one of the sharpest cuts, reducing its price by ₦15.
The latest price drop is expected to influence retail pump prices nationwide, offering relief to consumers and setting the stage for increased competition in the domestic fuel market as Dangote Refinery expands production output.