Private Depot Owners Slash Petrol Price from ₦828 to ₦710 per Litre After Dangote Refinery Reduction

Following a significant price reduction by the Dangote Petroleum Refinery, private petroleum depot owners across Nigeria have begun slashing their petrol (Premium Motor Spirit) prices, passing part of the relief to independent marketers and, potentially, retail consumers.

In mid-December, Dangote Petroleum Refinery announced a sharp cut in its ex-depot petrol price, lowering it from ₦828 per litre to ₦699 per litre, representing a ₦129 reduction from the previous benchmark.

The move, confirmed by multiple industry sources, is one of the most notable domestic fuel price adjustments in 2025 and reflects the refinery’s growing influence in Nigeria’s downstream oil sector.

In response, several private depot operators — who sell refined fuel to marketers before it reaches retail stations — have adjusted their own rates downward. Reports indicate that many depots now offer petrol at approximately ₦710 per litre, reflecting a ₦118 reduction from their prior pricing.

Analysts note that these adjustments are largely in line with Dangote’s revised pricing, illustrating the refinery’s emerging role as a market leader.

Industry observers say the cuts by depot owners could lead to further reductions at the retail level, bringing tangible relief to motorists who have faced high fuel costs over the past year.

The reduction comes amid broader economic pressures and follows multiple price cuts implemented by Dangote Refinery in 2025, which have steadily reshaped pricing dynamics in the Nigerian petroleum sector.

While official statements from depot trade bodies were still pending, feedback from some marketers indicated that the price adjustments were welcomed, as they would help maintain competitiveness while offering consumers more affordable fuel options.

Analysts also anticipate that sustained alignment with Dangote Refinery pricing may encourage other players in the downstream sector to reduce margins, potentially stabilising fuel costs nationwide.

The latest development underscores the growing influence of domestic refining capacity in Nigeria’s energy market and signals a shift in how petrol pricing is determined, with private depots increasingly responsive to refinery-led adjustments rather than solely relying on import parity benchmarks.