Dangote Refinery Cuts Petrol Price to ₦699 to Ease Christmas Travel
By Patience Ikpeme
The Dangote Petroleum Refinery has reduced the ex-depot price of petrol from ₦828 to ₦699 per litre, marking its 20th price adjustment of 2025 and triggering another wave of relief across the downstream sector.
Real-time market data from Petroleumprice.ng on Friday confirmed the latest reduction, which shaved ₦129 off the Premium Motor Spirit benchmark rate—representing a 15.58 percent drop. “The refinery reduced its petrol price to ₦699 per litre,” a source said, noting that the change took effect on December 11, 2025.
The announcement comes just days after the refinery’s Chairman, Aliko Dangote, renewed his pledge to keep petrol “reasonable and competitive” for Nigerians despite global volatility and persistent smuggling pressure along Nigeria’s borders.
Speaking after a closed-door meeting with President Bola Tinubu on December 6, Dangote said domestic pump prices remain significantly lower than the ₦1,500 to ₦1,600 per litre common in neighbouring countries. He said competition is now reshaping Nigeria’s fuel market in real time. “Prices are going down because competition is working,” he said, adding that smuggling has reduced even though “it has not disappeared completely.”
Senior officials at the refinery said the latest review was deliberately timed to reduce transport pressures ahead of the Christmas travel rush. They said the move aligns with the company’s “commitment to make the season memorable for citizens and reduce cost pressures on road transport operators.”
Industry analysts say the refinery’s steady price revisions have helped stabilize fuel supply, cut arbitrage opportunities, and push new efficiencies across the downstream market. The refinery, which cost an estimated $20 billion to build and can process 650,000 barrels per day, now supplies diesel, aviation fuel, and petrol domestically—an evolution that has sharply reduced import dependence.
The recurring price changes also signal a deeper structural shift. Industry sources say the latest adjustment confirms the effective end of the marketers’ consortium model, which previously coordinated bulk purchase arrangements. With the refinery expanding its distribution channels nationwide, individual marketers now negotiate directly, enabling quicker market responses and greater regional penetration.
Across the country, consumers are expected to feel the impact within days. The revised gantry price is likely to bring down retail pump rates, particularly in states where transport costs traditionally soar during the festive period. Interstate passenger traffic typically spikes from mid-December, making fuel affordability a critical factor for travelers heading to the North, South-East, and other long-distance corridors.
Dangote has maintained that he is in no rush to recover the investment pumped into the project. He insisted that prices would continue to fall as the refinery increases production and competes directly with imported products. “The more we produce, the more the pressure will come down,” he said after the meeting with President Tinubu.
Refinery officials added that further adjustments remain possible as production ramps up and as the facility approaches its next expansion phase.
For now, the latest cut has injected fresh momentum into the market and renewed expectations that Nigerians could see even lower pump prices in the coming months.
