Dangote Refinery Slashes Petrol Price to 699 Naira Per Litre, Sending Shockwaves Across Fuel Market
In a bold move set to reshape Nigeria’s fuel market, Dangote Petroleum Refinery has reduced its petrol gantry price from N828 to N699 per litre, representing a drop of N129 or roughly 15.58 per cent.
The adjustment, effective from 11 December 2025, is the 20th price revision by the refinery this year, signalling a strategic push to keep domestic fuel affordable amid global price volatility.
An official at the refinery confirmed the development, noting that the price cut reflects the company’s commitment to competing with imported fuel while mitigating the impact of smuggling along Nigeria’s borders.
The reduction follows comments by Dangote Petroleum Refinery Chairman, Aliko Dangote, during a closed-door meeting with President Bola Tinubu on 6 December, where he assured that the refinery is focused on maintaining competitive pricing for Nigerians. “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 that while smuggling has declined, it remains a concern, stressing that petrol in Nigeria remains “about 55 per cent lower than the price of our neighbouring countries.”
Dangote further emphasized that the refinery’s petroleum products, including petrol and diesel, will continue to be sold at reasonable rates, stressing that the operation is a long-term investment rather than a quick-profit venture.
“We are not here to make our $20 billion back quickly; it’s a long-term investment,” he stated.
The new pricing has already triggered ripple effects across private depots nationwide. According to Petroleumprice.ng, Sigmund Depot cut its ex-depot price by N4 to N824 per litre, Bulk Strategic reduced theirs by N3, and TechnoOil implemented a sharper N15 decrease. Other depots, including A.A. Rano, NIPCO, and Aiteo, also made modest adjustments in line with Dangote’s pricing.
Industry watchers say the move could lead to lower pump prices for consumers, potentially easing the financial burden on motorists and stimulating economic activity across Nigeria.
The development underscores the refinery’s pivotal role in shaping the nation’s energy landscape and highlights the ongoing efforts to stabilize domestic fuel pricing.
