The domestic fuel market shifted again this week as Dangote Petroleum Refinery implemented another significant downward review of its petrol gantry rate, drawing swift reactions from private depots nationwide.
Real-time figures from Petroleumprice.ng indicated that the refinery revised its Premium Motor Spirit benchmark to N699 per litre, a N129 reduction from the previous ex-depot rate of N828. The adjustment, which came into effect on December 11, 2025, represents the refinery’s 20th price revision this year. An official who confirmed the update to PUNCH Online—speaking anonymously—said simply, “The refinery has reduced petrol gantry price to N699 per litre.”
The latest review follows comments made just days earlier by refinery Chairman Aliko Dangote, who reaffirmed after a closed-door meeting with President Bola Tinubu that domestic fuel prices would “remain reasonable and competitive.” He attributed the continuing price reductions to rising refinery output and its growing ability to challenge imported petroleum products.
According to Dangote, downward pricing is essential in a market where Nigeria’s pump rates remain significantly cheaper—by more than half—than prices in neighbouring countries, a disparity that continues to fuel cross-border smuggling despite recent declines. He emphasised that the refinery’s long-term outlook supersedes any rush to recoup its massive investment, saying diesel and petrol would “continue to be sold at a very reasonable price.”
The price movement at Dangote quickly rippled across the downstream sector. Data from Petroleumprice.ng showed several private depots adjusting their rates in response: Sigmund Depot cut its ex-depot price by N4 to N824 per litre; Bulk Strategic recorded a N3 reduction; while TechnoOil implemented one of the most notable cuts at N15. Other major operators, including A.A. Rano, NIPCO, and Aiteo, also made slight downward adjustments as market dynamics recalibrated around the refinery’s new pricing template.
Industry analysts say the continued reductions are reinforcing Dangote Refinery’s influence on market behaviour, with expectations of further price shifts as production stabilises and competitive pressures heighten.