Dangote Refinery slashed its ex-depot petrol price from N828 to N699 per litre on December 11, 2025, sparking widespread optimism among Nigerians amid persistent fuel scarcity and high pump prices. Professor Wunmi Iledare, a petroleum policy expert, cautioned against premature rejoicing, arguing the reduction reflects competitive pressures from imports rather than sustainable relief.
Iledare emphasized that global crude volatility and smuggling to neighboring countries where Nigerian fuel remains 55% cheaper drive such adjustments, not long-term cost savings for consumers. He noted this marks the refinery's 20th price tweak in 2025, with Aliko Dangote pledging continued competitiveness post his meeting with President Tinubu, including a 10-day credit for marketers on minimum 500,000-litre orders.
The drop prompted ripple effects at private depots like Sigmund and TechnoOil, but Iledare urged focus on broader reforms like ending subsidies and boosting local refining capacity for true affordability.