JUST-IN: From N828, Dangote Refinery Slashes Petrol Price To N699/Litre

Dangote Petroleum Refinery has once again reduced the ex-depot price of Premium Motor Spirit (PMS), popularly known as petrol, slashing the rate from N828 to N699 per litre in its latest downward review.

Fresh pricing data released on Friday by Petroleumprice.ng showed that the refinery implemented a N129 reduction, representing a 15.58 per cent drop in its ex-depot petrol benchmark.

The new pricing took effect December 11, 2025, marking the refinery’s 20th petrol price adjustment this year.

The latest reduction followed assurances by the refinery’s chairman, Aliko Dangote, who recently reiterated his commitment to maintaining “reasonable and competitive” fuel pricing despite global market volatility and persistent smuggling challenges across Nigeria’s borders.

Speaking recently after a closed-door meeting with President Bola Tinubu on December 6, Dangote said further price cuts were likely as the refinery expands its production capacity and competes more aggressively with imported fuel.

He stated: “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.”

The continued pricing adjustments were part of the refinery’s broader strategy to stabilise domestic supply, discourage fuel diversion, and strengthen confidence in locally refined products.