Energy: Why Dangote Refinery again, slashes PMS gantry price to N699 per litre –Aliko

*Aliko Dangote, Chairman of Dangote Petroleum Refinery, discloses the oil-refining company slash the gantry price of its Premium Motor Spirit also called petrol, from N828 to N699 per litre in order to compete with fuel imports into Nigeria

Isola Moses | ConsumerConnect

Alhaji Aliko Dangote, President/Chief Executive (CE) of Dangote Industries Limited (DIL) and Chairman of Dangote Petroleum Refinery, has disclosed the Dangote Petroleum Refinery again, is poised to slash the gantry price of its Premium Motor Spirit (PMS), otherwise called petrol, from initial N828 to N699 per litre, to compete with imports into Nigeria.

ConsumerConnect reports some energy industry stakeholders noted the company’s latest price slash could influence retail fuel pricing across the market.

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The adjustment, effective from Thursday, December 11, 2025, represents a reduction of N129 per litre, or approximately 15.58 percent, according to real-time market data from Petroleumprice.ng.

An official at the refinery reportedly said that the recent price cut marked the “20th price adjustment” by the Dangote Petroleum Refinery in this year.

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Earlier, Alhaji Dangote had hinted at this petrol price reduction during his closed-door meeting with President Bola Ahmed Tinubu.

The Chief Executive of Dangote Group reaffirmed the oil-refining company’s commitment to maintaining competitive domestic fuel prices despite global volatility, and ongoing smuggling along the West African country’s borders.

He also said: “Prices are going down. The reason why prices have to go down is that we have to also compete with imports.”

The Chairman of Dangote Refinery as well noted that as smuggling has declined in the energy industry, it yet remains a challenge.

According to him, petrol in Nigeria is “about 55 percent lower than the price of our neighbouring countries.”

Dangote further emphasised that the refinery’s petroleum products, including diesel and petrol, “will continue to be sold in the market at a very reasonable price.”

He stated that the operation is a long-term investment.

Dangote declared: “We are not here to make our $20 billion back quickly; it’s a long-term investment.”

Far-reaching implication of price slash on oil depots

Meanwhile, Dangote Petroleum Refinery’s recent gantry price reduction Thursday has prompted ripple effects across private depots in the country, Petroleumprice.ng report said.

It was learnt Sigmund Depot cut its ex-depot price by N4 to N824 per litre, Bulk Strategic reduced by N3, and TechnoOil implemented a sharper decrease of N15.

Other depots, including A. A. Rano, NIPCO, and Aiteo, also made marginal adjustments in response to the new Dangote pricing template, report noted.

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