In a major boost for Nigerians ahead of the Christmas and New Year celebrations, the Dangote Petroleum Refinery has announced a fresh reduction in the ex-depot price of Premium Motor Spirit (PMS), bringing the new rate down from ₦828 to ₦699 per litre. The adjustment, effective December 11, 2025, represents a ₦129 decrease, about 15.58% and marks the refinery’s 20th price cut this year.
The latest reduction is expected to put pressure on marketers to review pump prices across the country, where petrol currently sells between ₦915 and ₦970 per litre in many filling stations. Industry insiders say retail prices could drop significantly in the coming days as marketers lift products at the revised ex-depot rate.
Some Nigerians attribute the price slash to a combination of factors, including the strengthening of the naira, declining global crude oil prices, and Dangote Refinery’s intensified strategy to dominate the domestic petrol market. The refinery’s growing influence is seen as a direct challenge to imported PMS supplies traditionally controlled by the NNPC and other major players.
To ensure product availability throughout the festive period, Dangote Refinery has committed to supplying 1.5 billion litres of petrol in December alone. This development is expected to ease fuel scarcity concerns and stabilise prices during the high-demand season.
The new ₦699 rate is the lowest ex-depot petrol price recorded in Nigeria in 2025.