KEY POINTS
- The Dangote refinery petrol price cut pushes a wider market response.
- Private depots shifted prices after the latest reduction.
- Dangote says output growth will keep prices stable.
The Dangote Petroleum Refinery has reduced its petrol gantry price to N699 per litre. The move lowers the previous N828 per litre rate and marks one of the sharpest adjustments by the facility this year.
Data from Petroleumprice.ng showed the updated benchmark on Friday, reflecting a N129 decrease that represents a 15.58 percent reduction. An official at the refinery confirmed the new price, noting that the adjustment took effect on December 11.
Petrol price cut shapes competition
This change is the twentieth petrol revision announced by the refinery in 2025, highlighting its active role in shaping domestic fuel costs. Many market watchers have tracked the refinery’s pricing decisions closely as it gains influence in a sector long dependent on imports. The timing of the latest review aligns with the facility’s steady production ramp-up, which has helped deepen local supply.
The cut arrived days after Chairman Aliko Dangote met with President Bola Tinubu in Abuja. After the meeting, Dangote restated his goal of keeping fuel prices “reasonable and competitive.” He said increased output remains central to those efforts, especially as the refinery positions itself against imported products. He noted that cross-border smuggling remains a challenge because local fuel prices sit about 55 percent below those in neighbouring countries.
Refinery output drives petrol price cut
Dangote said the refinery’s long investment horizon gives room for steady price adjustments and added that both diesel and petrol will be sold at stable levels as production stabilises. He stressed that recovering the refinery’s $20 billion investment will take time, and the pricing strategy reflects that long view.
Private depots moved quickly after the latest cut. Sigmund Depot reduced its rate by N4 to N824 per litre. Bulk Strategic followed with a N3 drop. TechnoOil posted one of the most significant adjustments with a N15 reduction. Other depots, including A.A. Rano, NIPCO and Aiteo, also shifted their prices. These changes reflect a market recalibrating to the Dangote refinery petrol price cut as the supply picture continues to evolve.
