Dangote Refinery Cuts Petrol Ex-Depot Price to ₦699 Per Litre in Fresh Market Review
Dangote Refinery Cuts Petrol Ex-Depot Price to ₦699 Per Litre in Fresh Market Review
Dangote Refinery Cuts Petrol Ex-Depot Price to ₦699 Per Litre in Fresh Market Review
Dangote Petroleum Refinery has once again reviewed the price of Premium Motor Spirit (PMS), reducing its ex-depot rate from ₦828 to ₦699 per litre.
Fresh figures released on Friday by Petroleumprice.ng confirmed the adjustment, reflecting a ₦129 reduction—representing a 15.58% drop in the refinery’s benchmark petrol price.
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A refinery official, who asked not to be named because he was not authorised to speak publicly, also confirmed the development, stating: “The refinery has reduced petrol gantry price to ₦699 per litre.”
The new price took effect on December 11, 2025, marking the refinery’s 20th price review this year.
This latest adjustment follows less than a week after Dangote Group President, Alhaji Aliko Dangote, reiterated his commitment to ensuring local fuel prices remain “reasonable and competitive” amid volatile global market conditions and persistent smuggling across Nigeria’s borders.
After a closed-door meeting with President Bola Ahmed Tinubu on December 6, Dangote explained that further price reductions were likely as the refinery ramps up production and competes more directly with imported petroleum products.
“Prices are going down. We have to compete with imports. Smuggling has reduced, though not completely, because Nigerian prices are still about 55% lower than in neighbouring countries,” he said.
He added that diesel and petrol “will continue to be sold at very reasonable prices,” stressing that the refinery is a long-term investment: “We are not here to make our $20 billion back quickly.”
Market indicators from Petroleumprice.ng show that several private depots have reacted to the refinery’s new template by reducing their ex-depot prices as well.
Sigmund Depot trimmed its rate by ₦4 to ₦824 per litre, Bulk Strategic reduced by ₦3, while TechnoOil implemented one of the steepest cuts, dropping by ₦15.
Other depots—including A.A. Rano, NIPCO and Aiteo—also adjusted their prices downward, signaling a ripple effect across the downstream market.
Dangote Refinery Cuts Petrol Ex-Depot Price to ₦699 Per Litre in Fresh Market Review
