ABUJA, Nigeria (VOICE OF NAIJA)-The Dangote Petroleum Refinery has once more lowered its petrol gantry price, bringing the ex-depot rate down from N828 to N699 per litre.
Real-time market data on Petroleumprice.ng, published on Friday, indicated that the refinery carried out another significant reduction, decreasing the Premium Motor Spirit benchmark rate by N129 per litre a 15.58 per cent drop.
A refinery official, who spoke on the condition of anonymity because he was not authorised to speak publicly, also verified the change.
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He stated, “The refinery has reduced petrol gantry price to N699 per litre.”
The updated price became effective on December 11, 2025, marking the refinery’s 20th petrol price adjustment this year.
This latest cut comes less than a week after the refinery’s Chairman, Aliko Dangote, reaffirmed his dedication to keeping domestic fuel prices “reasonable and competitive” amid global fluctuations and ongoing smuggling along Nigeria’s borders.
During a closed-door meeting with President Bola Tinubu on December 6, Dangote noted that prices would keep declining as the refinery boosts output and competes 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 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 monitors on Petroleumprice.ng also highlighted new reductions across multiple private depots following the refinery’s updated pricing.
According to the platform, Sigmund Depot lowered its ex-depot rate by N4 to N824 per litre, while Bulk Strategic implemented a slight decrease of N3. TechnoOil recorded one of the steepest reductions with a N15 cut.
Several other depots including A.A. Rano, NIPCO and Aiteo were also noted adjusting their prices marginally as the market responded to the new Dangote pricing template.