The Dangote Petroleum Refinery has announced the reduction of its petrol Premium Motor Spirit (PMS) ex-depot price, slashing the rate from ₦828 to ₦699 per litre, effective December 11, 2025.
This adjustment marks the 20th price reduction announced by the refinery this year a 15.58 per cent drop in the benchmark price. The adjustment is aimed towards providing relief to Nigerian consumers, especially ahead of the holiday season.
Aliko Dangote, confirmed the adjustment just five days earlier (December 6) after meeting with President Bola Tinubu. Dangote reiterated that the refinery is a long-term investment and is not aiming to quickly recover its $20 billion cost.
Prices are going down. The reason why prices have to go down is that we have to also compete with imports. Diesel and petrol will continue to be sold in the market at a very reasonable price… Nigeria’s domestic price is still about 55 per cent lower than the price of our neighbouring countries (where petrol often sells for around $1 per litre or approximately ₦1,600) – Dangote
Market trackers, confirmed that several private depot operators began aligning their prices downwards in response to Dangote’s new pricing.
According to the report, TechnoOil implemented massive cuts, reducing its ex-depot rate by ₦15, while Sigmund Depot reduced its price by ₦4 to ₦824 per litre, and Bulk Strategic posted a marginal drop of ₦3. Other major depots, including A.A. Rano, NIPCO, and Aiteo, were captured adjusting their rates also.
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