By Joy Baba-Yesufu
The Dangote Petroleum Refinery has reduced the ex-depot price of Premium Motor Spirit (PMS) from N828 to N699 per litre, marking a N129 drop and a 15.58 per cent reduction.
Real-time data from Petroleumprice.ng on Friday confirmed that the new pricing took effect on December 11, 2025, representing the refinery’s 20th petrol price adjustment this year.
The latest reduction comes less than a week after the refinery’s Chairman, Aliko Dangote, reaffirmed his commitment to maintaining competitive domestic fuel prices despite global market instability and ongoing cross-border smuggling.
Following a closed-door meeting with President Bola Tinubu on December 6, Dangote said prices would continue to decline as the refinery scales production
and competes with imported fuel.
“Prices are going down. We have to compete with imports. Smuggling has reduced, though not completely. The price difference between Nigeria and neighbouring countries remains significant,” he said.
Dangote added that both diesel and petrol would “continue to be sold at very reasonable prices,” noting that the $20 billion refinery was a long-term investment, not one seeking rapid returns.
The refinery’s price adjustment has triggered fresh market responses, with several private depots implementing their own reductions.
Data from Petroleumprice.ng shows Sigmund Depot cutting its price by N4 to N824 per litre, while Bulk Strategic reduced its rate by N3. TechnoOil recorded one of the highest drops with a N15 reduction.
Other depots, including A.A. Rano, NIPCO, and Aiteo, also adjusted their prices slightly as the market aligned with Dangote’s new pricing template.
