The Dangote Petroleum Refinery has announced further reduction in its petrol gantry price, lowering the ex-depot rate from N828 to N699 per litre.
Market figures released on Friday by Petroleumprice.ng showed that the refinery carried out a fresh downward adjustment, cutting the Premium Motor Spirit benchmark by N129 per litre — a 15.58 per cent drop.
The revised price took effect on December 11, 2025, representing the 20th adjustment made by the refinery this year.
Reports quoting a reliable source, who confirmed the development stated that the reduction is a way of showing that the company prioritises Nigerians’ welfare and an appreciation for their support, especially during the festive season.
Meanwhile, the latest cut comes less than one week after the refinery’s Chairman, Aliko Dangote, reaffirmed his pledge to keep domestic fuel prices “reasonable and competitive” despite global uncertainties and ongoing smuggling across Nigeria’s borders.
After a closed-door meeting with President Bola Tinubu on December 6, Dangote noted that prices would continue to decline as the refinery boosts production and competes with imports.
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.”
He 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.