Dangote Refinery Slashes Petrol Price to N699 Per Litre: Major Relief for Nigerian Consumers

The Dangote Petroleum Refinery has reduced its petrol price to N699 per litre, bringing significant relief to millions of Nigerians ahead of the festive season. This represents a massive N129 reduction from the previous price of N828 per litre.

Dangote Petrol Price: What You Need to Know

The latest price reduction marks the 20th adjustment by Africa's largest oil refinery in 2025. Industry officials confirmed the ex-depot price cut on Friday, December 13.

This 15.58 percent decrease makes petrol more affordable across Nigeria.

Why Did Dangote Refinery Reduce Petrol Price?

Aliko Dangote explained the price strategy during a meeting with President Bola Tinubu on December 6. The refinery must compete with imported petroleum products. Nigeria's petrol prices remain approximately 55 percent lower than neighboring West African countries.

Dangote emphasized this is a long-term investment, not a quick profit venture. The billionaire stated the refinery will maintain reasonable and competitive fuel prices despite global market volatility.

Petrol Price Comparison: Dangote vs NNPC vs Other Marketers

The Nigerian National Petroleum Company Limited currently sells petrol between N915 and N937 per litre in Abuja. Lagos NNPC stations offer petrol at approximately N900 per litre.

Dangote's N699 ex-depot price positions the refinery as the most competitive supplier. Consumers can expect retail prices to potentially drop to around N750 to N800 per litre at filling stations.

This marks the lowest fuel prices Nigerians have seen in over two years.

Impact of Dangote Refinery Petrol Price on Transport Sector

Transport operators will benefit significantly from the fuel price reduction. Lower petrol costs translate to reduced transportation fares during peak holiday travel.

Intra-state and interstate travel becomes more affordable for millions of Nigerians. The timing coincides perfectly with the Christmas and New Year travel season.

Passengers can expect fare reductions across major routes nationwide.

Future Outlook: Will Petrol Prices Continue to Fall?

Aliko Dangote confirmed prices will continue decreasing as output increases. Competition with imported products drives the downward pricing trend.

The refinery prioritizes long-term market stabilization over quick profits. The $20 billion investment focuses on sustainable operations. Industry watchers expect further adjustments as production ramps up in 2026.

About Dangote Petroleum Refinery

The Dangote Petroleum Refinery is Africa's largest oil refinery located in Lekki, Lagos. The facility has a processing capacity of 650,000 barrels per day.

It represents a $20 billion investment in Nigeria's petroleum sector. The refinery commenced commercial operations in 2024. It aims to eliminate Nigeria's dependence on imported refined petroleum products.