Dangote refinery reduces petrol price to N699 per litre
The Dangote Petroleum Refinery has reduced the depot price of petrol from N828 to N699 per litre, marking a significant 15.58 percent reduction in the price of Premium Motor Spirit.
This is based on real-time market data published on Petroleumprice.ng on Friday and information from sources at the refinery who chose to remain anonymous.
The new price which took effect on December 11, 2025, is coming barely five days after the refinery’s Chairman, Aliko Dangote, stated that domestic fuel prices would remain “reasonable and competitive”.
Dangote had said, after a closed-door meeting with President Bola Tinubu on December 6, that prices would continue to fall as the refinery ramps up output, while also competing with imported products.
“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 percent lower than the price of our neighbouring countries”, he had said.
He added that petroleum products “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,” he said.
Reports say that some depots have begun to adjust their prices based on the latest development.
