Petrol Pump Prices to Drop as Dangote Refinery Slashes Gantry Price to ₦699/litre

As the festive season approaches, Dangote Refinery has announced another slash of its gantry price of Premium Motor Spirit (PMS), also known as petrol to ₦699.

This reflects a ₦129 or 15.58 per cent reduction when compared to ₦828 per litre sold previously.

In a statement, the refinery said the new price takes effect on Friday, December 12, 2025.

Pinnacle Daily reports that the new petrol price cut marks the 20th price adjustment announced by the 650,000 barrels per day capacity refinery this year.

The company said the price reduction is part of its efforts to make petrol affordable to Nigerian consumers.

While assuring nationwide availability of petroleum products, the refinery also introduced a 10-day credit facility, backed by bank guarantees, with a minimum purchase threshold of 500,000 litres. This is an incentive to support customers who buy in bulk.

“To further support customers, the refinery has introduced a 10-day credit facility, backed by bank guarantees, with a minimum purchase threshold of 500,000 litres,” the refinery stated.

President of the Dangote Group, Alhaji Aliko Dangote, recently said the refinery remains committed to maintaining competitive domestic fuel prices despite global market volatility and persistent cross-border smuggling.

The company had in August, announced plans to start direct distribution of petrol and diesel to retailers, and bulk buyers across the country with the deployment of over 4,000 CNG-powered trucks to mitigate logistics challenges and reduce cost for the consumers.

The entry of Dangote into the downstream oil and gas market has sparked intense competition as major marketers struggle to retain a significant share of the market with imported petroleum products.

There are concerns that the new price set by Dangote Refinery would spark fresh price war with importers.

While some observers say the new gantry price adjustment could plunge the importers into losses, others say it would have significant effect on the transportation cost.

Reacting to the development, economist and energy expert, Mr Kelvin Emmanuel, said the price adjustment by Dangote Refinery shows it out to serve the interests of customers.

Mr Emmanuel said that for the first time in decades Nigerians won’t have to worry about fuel scarcity as they go for the holidays.

He explained that the new credit facility introduced by the refinery means that customers only need a Bank Guarantee for minimum off-take of petrol worth ₦349.5 million.

Pump prices of petrol at filling stations are expected to drop further following the reduction of Dangote Refinery’s ex-depot price.

Retail prices which is currently ranges from ₦890 to ₦910 in Lagos and ₦915 to ₦940 in Abuja, could drop to around ₦700 per litre or below, giving further relief to consumers.

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Victor EZEJA

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Victor Ezeja is a passionate journalist, scholar and analyst of socioeconomic issues in Nigeria and Africa. He is skilled in energy reporting, business and economy, and holds a master's degree in Mass Communication. He can be reached via @VICTOREZEJA on X