The Dangote Refinery has dropped its ex-depot petrol rate to N699 per litre, a significant decline from the earlier N828, amounting to a 15.58% reduction effective December 11, 2025.
Checks on Petroleumpriceng indicate this marks about the 20th price review by the refinery this year, arriving just before the festive period.
The adjustment aligns with similar reductions recently announced by the Nigerian National Petroleum Company and various filling stations, which have brought pump prices in Abuja down to between N915 and N937 per litre.
A refinery official, who spoke anonymously to PUNCH, confirmed the revised price, stating:
“The refinery has reduced petrol gantry price to N699 per litre.”
This new reduction comes only five days after the refinery’s Chairman, Aliko Dangote, restated his dedication to keeping fuel prices “reasonable and competitive” despite market instability and persistent smuggling concerns.
After his meeting with President Bola Ahmed Tinubu on December 6, Dangote noted: “Prices are going down. The reason why prices have to go down is that we have to also compete with imports.”
He further highlighted smuggling as a lingering challenge, saying: “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.”
Dangote stressed that the refinery is committed to long-term balance, adding: “We are not here to make our $20 billion back quickly; it’s a long-term investment.”
Following the refinery’s new pricing, several private depots also lowered their ex-depot rates. Sigmund Depot reduced its price by N4 to N824, Bulk Strategic cut by N3, while TechnoOil made a notable N15 reduction. Other depots, including A.A. Rano, NIPCO, and Aiteo, also made minor downward adjustments in response to the updated pricing.
