The Dangote Petroleum Refinery has implemented another significant reduction in the ex-depot price of Premium Motor Spirit, lowering the gantry rate from ₦828 to ₦699 per litre. The updated pricing took effect on December 11, 2025.
Real-time data from Petroleumprice.ng on Friday confirmed the new benchmark, marking a ₦129 reduction—about 15.6%—and representing the refinery’s 20th price adjustment since the beginning of the year.
A refinery official, who requested anonymity due to lack of authorisation to address the media, verified the development, stating simply: “The refinery has reduced petrol gantry price to ₦699 per litre.”
Dangote: Prices Will Keep Dropping as Output Rises
The latest move comes only days after Dangote Group Chairman, Aliko Dangote, met with President Bola Tinubu, where he reaffirmed the company’s intention to maintain “reasonable and competitive” domestic fuel prices despite global market volatility and persistent smuggling challenges.
Dangote noted that Nigeria’s petrol prices are still significantly lower than those of neighbouring countries—by nearly 55%—a factor that continues to influence smuggling activities. He however stressed that increased refinery output and competition with imported fuel would keep pushing prices downward.
“We are not here to recover our $20 billion investment overnight; this is a long-term project,” he said.
Private Depots Also Adjust Prices
Following the refinery’s announcement, several private depots immediately adjusted their own pump prices:
Sigmund Depot cut its ex-depot price by ₦4 to ₦824 per litre.
Bulk Strategic implemented a ₦3 downward adjustment.
TechnoOil introduced one of the biggest cuts with a ₦15 reduction.
Other depots such as A.A. Rano, NIPCO, and Aiteo also slightly reviewed their rates in response to the new Dangote pricing model.
This latest price shift is expected to influence pump prices nationwide as marketers respond to the new market dynamics.
