Dangote’s Massive Fuel Price Cut Due to Tinubu’s Oil Sector Reforms, Presidential Aide

President Bola Ahmed Tinubu’s Special Adviser on Media and Public Communication, Sunday Dare, has stated that the recent massive reduction in the price of petrol by the Dangote Refinery is a direct dividend of the current administration’s oil sector reforms.

Dare asserted on X (formerly Twitter) that the reforms are already yielding significant benefits for Nigerians.

The Dangote Refinery slashed its ex-depot price for Premium Motor Spirit (petrol) by ₦129, bringing the new gantry rate down to ₦699 per litre from its previous price of ₦828. This significant price cut, which took effect on December 12, 2025, marks one of the refinery’s most substantial downward reviews this year.

Dare highlighted two key policy decisions by the Tinubu administration as the primary drivers of this market change:

* Removal of Fuel Subsidy: This action, Dare argued, “unleashed market forces and encouraged competition” in the downstream sector.

* Naira-for-Crude Policy: This policy requires local refiners to purchase crude oil in the local currency, a move designed to ease pressure on the foreign exchange market and reduce the dollar-denominated cost of production.

The refinery has also introduced a 10-day credit facility for customers, supported by bank guarantees, with a minimum purchase requirement of 500,000 liters, an incentive to boost distribution.

The owner of the refinery, Aliko Dangote, has also previously credited the administration’s Naira-for-Crude policy for enabling the refinery to consistently reduce product prices and guarantee availability, which contributes to stabilizing the currency.