Dangote Refinery Cuts Petrol Price to ₦699 Per Litre, Crashes Below ₦800

Dangote Refinery Cuts Petrol Price to ₦699 Per Litre, Crashes Below ₦800

The Dangote Petroleum Refinery has announced another significant reduction in the price of Premium Motor Spirit (PMS), slashing its ex-depot petrol price from ₦828 to ₦699 per litre, marking the first time petrol has dropped below ₦800 in months.

The ₦125 price cut, representing a 15.58 per cent reduction, was reflected in real-time data published on Petroleumprice.ng on Friday. The new pricing took effect on December 11, 2025, and is the 20th petrol price adjustment by Dangote Refinery this year.

A spokesman for the refinery, Tony Chiejina, confirmed the latest reduction, noting that it aligns with efforts to stabilise domestic fuel supply and reduce costs for Nigerians.

Industry sources disclosed that the fuel price slash was targeted at easing transportation costs ahead of the Christmas and New Year festivities, a period marked by heavy inter-state travel.

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The development comes barely five days after Aliko Dangote, Chairman of the Dangote Group, reiterated his commitment to maintaining “reasonable and competitive fuel prices”, despite global oil market volatility and the challenge of fuel smuggling across Nigeria’s borders.

Speaking after a closed-door meeting with President Bola Tinubu on December 6, Dangote stated that petrol prices would continue to decline as the refinery increases production and competes more aggressively with imported fuel.

Following the new Dangote petrol pricing, several private fuel depots also adjusted their rates downward, according to market trackers on Petroleumprice.ng. Sigmund Depot cut its price by ₦4 to ₦824 per litre, Bulk Strategic reduced its rate by ₦3, while TechnoOil recorded one of the sharpest drops with a ₦15 reduction. Other depots such as A.A. Rano, NIPCO and Aiteo also reviewed their prices downward.

However, checks revealed that the price reduction has yet to reflect at retail filling stations. As of Friday, petrol was selling for between ₦890 and ₦910 per litre in Lagos and other southern states, while prices in Northern Nigeria remained above ₦950 per litre.

Stakeholders expect the latest Dangote Refinery price cut to gradually influence pump prices nationwide as distribution and market adjustments take effect.

Dangote Refinery Cuts Petrol Price to ₦699 Per Litre, Crashes Below ₦800