The Dangote Petroleum Refinery has again reduced the ex-depot price of Premium Motor Spirit (PMS), lowering the benchmark from N828 to N699 per litre in its latest downward review.

Fresh pricing data released on Friday by Petroleumprice.ng showed that the refinery implemented a N129 reduction, representing a 15.58% drop in its ex-depot petrol price.
The new rate took effect December 11, 2025, marking the refinery’s 20th petrol price adjustment this year.

The latest downward review aligns with recent assurances from the refinery’s Chairman, Aliko Dangote, who pledged to maintain “reasonable and competitive” pricing despite global market volatility and ongoing smuggling challenges along Nigeria’s borders.

Speaking after a closed-door meeting with President Bola Tinubu on December 6, Dangote said more reductions were likely as the refinery expands production capacity and competes more aggressively with imported petrol.

“Prices are going down. The reason why prices have to go down is that we have to also compete with imports. But luckily for us now, the smuggling has reduced, not totally. There is still quite a lot of smuggling because the price we have…,” he said, before noting that increased supply would continue to pressure prices downward.

The refinery’s sustained pricing adjustments form part of a broader strategy to stabilise domestic supply, discourage product diversion, and strengthen confidence in locally refined fuel.