The Dangote Petroleum Refinery has announced a fresh reduction in the gantry price of Premium Motor Spirit (petrol), bringing the new rate to ₦699 per litre, effective December 12, 2025.
Alongside the price cut, the refinery has also introduced a 10-day credit facility for marketers. The adjustment applies to all customers and was disclosed in a notice shared via the refinery’s official X handle on Friday night. A refinery official also confirmed the development.
According to the refinery, the latest price reduction comes just five days after its Chairman, Aliko Dangote, reaffirmed his commitment to maintaining reasonable and competitive domestic fuel prices despite global market volatility and ongoing smuggling challenges across Nigeria’s borders.
Speaking after a closed-door meeting with President Bola Tinubu on December 6, Dangote stated that prices would continue to decline as the refinery increases production and competes directly with imported fuel.
“Prices are going down. The reason is that we also have to compete with imports. Smuggling has reduced, though not completely. Prices in Nigeria are still about 55 per cent lower than in neighbouring countries,” he said.
Dangote added that petroleum products, including diesel and petrol, will continue to be sold at affordable rates, stressing that the $20 billion refinery project is a long-term investment rather than a venture aimed at quick returns.
The latest adjustment represents a ₦129 reduction from the previous ex-depot price of ₦828 per litre, amounting to a 15.58 per cent decrease, according to real-time market data.
