The Dangote Petroleum Refinery has again reduced the gantry price of petrol, slashing the ex-depot rate from ₦828 to ₦699 per litre.
Real-time market data published on Petroleumprice.ng on Friday showed that the refinery carried out another significant downward review, cutting the Premium Motor Spirit (PMS) benchmark price by ₦129 per litre, a 15.58% reduction.
An official of the refinery, who spoke to The Telegraph on condition of anonymity because he was not authorised to comment publicly, also confirmed the new rate.
“The refinery has reduced the petrol gantry price to ₦699 per litre,” the official said.
The new price took effect on December 11, 2025, marking the 20th petrol price adjustment by the refinery this year.
The development comes just five days after the refinery’s Chairman, Aliko Dangote, reaffirmed his commitment to maintaining “reasonable and competitive” domestic fuel prices despite global market volatility and ongoing smuggling along Nigeria’s borders.
Following a closed-door meeting with President Bola Tinubu on December 6, Dangote said prices would continue to decline as the refinery scales up production and competes more directly with imported fuel.
“Prices are going down. They have to go down because we must compete with imports,” he said.
“But luckily for us now, smuggling has reduced, though not completely. There is still quite a lot of smuggling because the price in Nigeria is about 55% lower than in neighbouring countries.”
Dangote added that petroleum products, including diesel and petrol, would “continue to be sold at very reasonable prices,” stressing that the refinery was a long-term project.
“We are not here to make our $20 billion back quickly; it’s a long-term investment,” he said.
Market trackers on Petroleumprice.ng also reported fresh price reductions across several private depots following the refinery’s latest review.
According to the platform, Sigmund Depot reduced its ex-depot price by ₦4 to ₦824 per litre, while Bulk Strategic posted a marginal ₦3 decrease. TechnoOil implemented one of the sharpest cuts with a ₦15 reduction.
Other depots including A.A. Rano, NIPCO and Aiteo also adjusted their prices slightly in response to the new Dangote pricing template.
