Dangote refinery slashes petrol price to N699 per litre
Dangote Refinery Slashes Petrol Price to N699 Per Litre, Records 20th Cut in 2025
The Dangote Petroleum Refinery has once 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 (PMS) benchmark price by N129 per litre, representing a 15.58 per cent reduction.
An official of the refinery, who spoke to www.cjsoftflix.com on condition of anonymity due to lack of authorisation to comment publicly, confirmed the adjustment.
“The refinery has reduced petrol gantry price to N699 per litre,” the official stated.
20th Petrol Price Adjustment in 2025
The new price took effect on December 11, 2025, marking the 20th petrol price adjustment announced by the Dangote Refinery this year, further reinforcing its aggressive pricing strategy in Nigeria’s downstream oil sector.
The latest reduction comes just five days after the refinery’s Chairman, Aliko Dangote, reiterated his commitment to keeping domestic fuel prices reasonable and competitive, despite global market volatility and persistent fuel smuggling across Nigeria’s borders.
Dangote Explains Reason for Continuous Price Cuts
Speaking after a closed-door meeting with President Bola Tinubu on December 6, Dangote disclosed that petrol prices would continue to decline as the refinery ramps up production and competes directly with imported fuel.
“Prices are going down. The reason why prices have to go down is that we have to also compete with imports,” Dangote said.
He added, “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 in neighbouring countries.”
The billionaire businessman further assured Nigerians that petroleum products would remain affordable.
“We are not here to make our $20 billion back quickly; it’s a long-term investment. Diesel and petrol will continue to be sold at a very reasonable price,” Dangote stated.
Private Depots Adjust Prices Nationwide
Market trackers on Petroleumprice.ng also reported fresh price adjustments across several private depots following the refinery’s latest review.
- Sigmund Depot reduced its ex-depot price by N4 to N824 per litre
- Bulk Strategic posted a marginal reduction of N3
- TechnoOil implemented one of the sharpest cuts with a N15 reduction
- A.A. Rano, NIPCO and Aiteo also adjusted their rates slightly
Industry analysts say the latest Dangote pricing template is already reshaping Nigeria’s fuel market, forcing private depots to review prices downward in response to increased local supply.
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