Dangote reduces petrol price ahead of yuletide season
Dangote Refinery has announced a major reduction in the price of petrol as the country prepares for the yuletide season. Fresh checks on Friday from Petroleumpriceng show the refinery’s ex-depot price has fallen to ₦699 per litre from ₦828 per litre.
The latest cut reflects a ₦129 drop, representing a 15.58 per cent decrease. It also marks the 20th petrol price review carried out by the refinery this year.
Fresh Adjustment to Boost Competitiveness
Aliko Dangote, founder and president/chief executive of the Dangote Group, recently reaffirmed the refinery’s commitment to consistent price reductions.
He said the move would ensure that locally refined petrol remains competitive with imported products.
Speaking to State House correspondents after a meeting with President Bola Tinubu on Monday, Dangote stressed that domestic fuel prices must reflect fair market competition.
“Prices are going down. The reason why prices have to go down, we have to also compete with imports,” he said.
Commitment to Market Stability
Dangote added that the refinery remains dedicated to keeping prices stable despite global crude oil price fluctuations.
On 6 November 2025, the refinery reduced its petrol gantry price from ₦877 to ₦828 per litre, a 5.6 per cent cut. It also lowered its coastal price from ₦854 to ₦806 per litre.
However, he acknowledged that fuel smuggling continues to pose a major challenge even as price adjustments are ongoing.
