JUST IN: Dangote Refinery Cuts Petrol Ex-Depot Price to N699 per Litre

The Dangote Petroleum Refinery has lowered the ex-gantry price of petrol to N699 per litre, marking a significant drop of N129 from the previous rate of N828. Sources within the facility confirmed the adjustment, describing it as part of the refinery’s strategy to keep domestic prices competitive.

Abubakar Garima, national president of the Independent Petroleum Marketers Association of Nigeria, also confirmed the new rate, noting that marketers had been advised they could begin lifting products at the reduced price ahead of the festive season. The new figure brings ex-depot pricing close to levels last seen about two years ago.

The refinery’s management has indicated that price reductions are aimed at ensuring local products remain attractive when compared with imported fuel. Aliko Dangote emphasized that petrol and diesel would continue to be sold at reasonable market levels as the facility scales operations and responds to broader market dynamics.

The adjustment follows recent price changes by the Nigerian National Petroleum Company Limited, which cut pump prices across its Lagos and Abuja retail stations to N900 and N940 per litre respectively on November 27.