Dangote Petroleum Refinery slashed its petrol gantry price by 15.58 percent to N699 per litre from N828, effective December 11, providing welcome relief to Nigerian consumers struggling with transportation costs ahead of the Christmas holiday season.
The reduction marks the refinery’s 20th price adjustment this year, signalling an increasingly aggressive pricing strategy as Africa’s largest single-train refinery ramps up domestic distribution and competes directly with imported fuel products. The N129 per litre cut comes at a crucial time when millions of Nigerians prepare for interstate holiday travel.
The price reduction follows a recent meeting between refinery chairman Aliko Dangote and President Bola Tinubu on December 6, during which the billionaire industrialist reaffirmed his commitment to maintaining competitive domestic fuel prices despite global market volatility and persistent cross-border smuggling.
The price reduction follows a recent meeting between refinery chairman Aliko Dangote and President Bola Tinubu on December 6, during which the billionaire industrialist reaffirmed his commitment to maintaining competitive domestic fuel prices despite global market volatility and persistent cross-border smuggling.
Industry analysts suggest the frequent price adjustments reflect a fundamental shift in Nigeria’s fuel distribution landscape. The traditional marketers’ consortium model appears to be declining as individual operators negotiate directly with the refinery, enabling faster price adjustments and broader market penetration.