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The Dangote Petroleum Refinery has again reduced its petrol gantry price, slashing the ex-depot rate from N828 to N699 per litre.
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 N129 per litre — a 15.58 per cent reduction.
An official of the refinery, who spoke to PUNCH Online on condition of anonymity because he was not authorised to comment publicly, also confirmed the adjustment.
He said, “The refinery has reduced petrol gantry price to N699 per litre.”
The new price took effect on December 11, 2025, marking the 20th petrol price adjustment announced by the refinery this year.
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.
The billionaire said 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 trackers on Petroleumprice.ng also reported fresh reductions across several private depots following the refinery’s latest review.
According to the platform, Sigmund Depot reduced its ex-depot price by N4 to N824 per litre, while Bulk Strategic also posted a marginal drop of N3. TechnoOil implemented one of the sharpest decreases with a N15 cut.
Price cut will bring Dangote in line with Offshore Lomé
MoneyCentral reported yesterday that gasoline prices at the Dangote refinery have diverged sharply from the Offshore Lomé market over the past month, as the refinery began selling gasoline at a fixed price in November while the Lomé market moved with swings in international markets.
The current price cut will bring Dangote prices more in line with international market prices and offshore Lomé.
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