The Dangote Petroleum Refinery has reduced its petrol gantry price, bringing the ex-depot rate down from ₦828 to ₦699 per litre. According to real-time data from Petroleumprice.ng, the adjustment represents a ₦129 drop or a 15.58 per cent reduction in the Premium Motor Spirit benchmark.

An official at the refinery confirmed the new rate, stating, “The refinery has reduced petrol gantry price to ₦699 per litre.” The adjustment took effect on December 11, 2025, marking the twentieth petrol price revision by the refinery this year.

The latest reduction comes shortly after Dangote Petroleum Refinery Chairman, Aliko Dangote, reaffirmed his commitment to maintaining domestic fuel prices at “reasonable and competitive” levels. Speaking on December 6 following a closed-door meeting with President Bola Tinubu, Dangote explained that prices will continue to fall as the refinery ramps up output and competes 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 per cent lower than the price of our neighbouring countries,” Dangote said.

He added that petroleum products, including diesel and petrol, “will continue to be sold in the market at a very reasonable price” and emphasised the long-term nature of the refinery’s investment. “We are not here to make our $20 billion back quickly; it is a long-term investment,” he said.

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The price reduction is expected to have immediate effects on festive travel. With many Nigerians preparing to journey across cities and states for family reunions and holiday activities, lower petrol costs could ease the financial burden on road transport operators and private motorists. Commuters and commercial transporters alike are likely to benefit from the relief.

Following Dangote’s pricing review, several private depots also adjusted their rates. Sigmund Depot reduced its ex-depot price by ₦4 to ₦824 per litre, while Bulk Strategic posted a ₦3 decrease. TechnoOil implemented one of the steepest cuts with a ₦15 reduction. Other depots, including A.A. Rano, NIPCO, and Aiteo, made smaller adjustments, signalling the market’s responsiveness to Dangote’s pricing strategy.

Analysts suggest that while smuggling and border challenges remain, strategic domestic production and competitive pricing from local refineries can play a key role in cushioning Nigerians from the often steep costs of festive travel. The refinery’s action is expected to help stabilise domestic fuel prices and support smoother road transport during the holiday season.

Meiza Nigeria