Business
Dangote Refinery Cuts Petrol Price to N699 per Litre
The Dangote Petroleum Refinery has reduced its ex-depot price of Premium Motor Spirit (PMS) to N699 per litre, effective December 11, 2025. This represents a 15.58% price slash from the previous rate of N828 per litre, marking the 20th downward adjustment made by the refinery this year.
According to industry sources, the latest reduction follows rising production volumes at the facility and a continuing decline in Nigeria’s reliance on imported petrol. The move is in line with owner Aliko Dangote’s recent pledge after a meeting with President Bola Ahmed Tinubu to offer more competitive pricing that will ease financial pressure on transporters and households.
The reduced price is also expected to help curb petrol smuggling across Nigeria’s borders, as domestic supply stabilizes and becomes more affordable.
Some private depots have also adjusted their prices downward, though not as steeply as Dangote Refinery. However, concerns remain about how soon the new ex-depot price will reflect at filling stations nationwide, given distribution costs and ongoing market speculation.
Analysts say the cut could bring significant relief to motorists if marketers fully transmit the new rate to the retail pumps.
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