Dangote Petroleum Refinery has reduced its petrol gantry price again, lowering the ex-depot rate from N828 to N699 per liter.
Live market figures published on Petroleumprice.ng showed that the refinery carried out another significant price review. The update cut the Premium Motor Spirit benchmark by N129 per liter, representing a 15.58 percent drop.
A refinery official confirmed the price change in a conversation with PUNCH Online. The source requested anonymity because he was not authorized to speak publicly.
“The refinery has reduced the petrol gantry price to N699 per liter,” the official said.
The new rate became effective on December 11, 2025. This marks the 20th petrol price adjustment announced by the refinery so far this year.
This latest cut came just five days after the refinery’s chairman, Aliko Dangote, reaffirmed his commitment to keeping fuel prices affordable and competitive, despite global market pressures and ongoing fuel smuggling across Nigeria’s borders.
Dangote made the statement after a closed-door meeting with President Bola Tinubu on December 6. He explained that prices would continue to decline as the refinery increases production and competes directly with imported fuel.
“Prices are going down,” Dangote said. “They have to come down because we are competing with imports.
“Smuggling has reduced, although it has not stopped completely.
“There is still some smuggling because petrol in Nigeria sells at about 55 percent less than in neighboring countries.”
The billionaire also said the refinery would continue selling diesel and petrol at prices that remain affordable for the market.
“We are not trying to recover our 20 billion dollar investment quickly. This is a long-term project,” he said.
Market analysts on Petroleumprice.ng also recorded fresh price adjustments at several private depots following the refinery’s latest move.
According to the platform, Sigmund Depot lowered its ex-depot price by N4 to N824 per liter. Bulk Strategic reduced its price by N3, while TechnoOil recorded one of the biggest drops with an N15 reduction.
Other depots, including A.A. Rano, NIPCO, and Aiteo, also adjusted their prices slightly as the market responded to the updated Dangote pricing structure.
source:punchng.com
African Energy Council