Dangote Oil Refinery has announced another reduction in the price of its petrol, reducing the depot rate from N828 to N699 per litre.
Market figures released on Friday by Petroleumprice.ng showed that the refiner carried out a further downward adjustment, cutting the benchmark price of Premium Motor Spirit by N129 per litre, a drop of 15.58 per cent.
The revised price took effect on December 11, 2025, marking the 20th adjustment made by the refinery this year.
A reliable source, who confirmed the development to online tribune, stated that the reduction is a way of demonstrating that the company prioritizes the well-being of Nigerians and appreciates their support, especially during the festive season.
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Meanwhile, the latest cut comes less than a week after the refinery’s chairman, Aliko Dangote, reaffirmed his commitment to keeping domestic fuel prices “reasonable and competitive” despite global uncertainties and ongoing smuggling across Nigeria’s borders.
After a closed-door meeting with President Bola Tinubu on December 6, Dangote noted that prices would continue to fall as the refinery ramps up production and competes with imports.
Dangote said: “Prices are going down. The reason prices have to go down is that we also have to compete with imports.
“But fortunately for us now smuggling has reduced, not completely.
“There is still a lot of smuggling because the price we have in Nigeria is about 55 percent lower than the price in our neighboring countries.”
He added that petroleum products (diesel and gasoline) “will continue to be sold in the market at a very reasonable price.”
“We are not here to quickly recover our $20 billion; it is a long-term investment,” Dangote said.
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