DANGOTE REFINERY CUTS PETROL EX-DEPOT PRICE TO N774 PER LITRE
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By Aishat Momoh. O.
Dangote Petroleum Refinery has reduced the ex-depot price of Premium Motor Spirit (PMS) by N25 per litre, bringing the gantry price down from N799 to N774 per litre, in a move analysts describe as a strategic recalibration amid changing market conditions in 2026.
The refinery communicated the price adjustment to marketers on Tuesday, stating that the new rate takes immediate effect.
In a notice issued by its Group Commercial Operations Department, Dangote Petroleum Refinery and Petrochemicals FZE said: “This is to notify you of a change in our PMS gantry price from N799 per litre to N774 per litre.”
Industry checks on petroleumprice.ng on Tuesday confirmed that the revised ex-depot price had already been reflected on major petroleum pricing platforms.
The refinery also announced the end of its PMS lifting incentive, informing marketers that the bonus window officially closed at midnight on February 10, 2026.
“Additionally, please note that the PMS lifting bonus ended at 12:00 a.m. on 10th February 2026. The corresponding credit for volumes loaded from 2nd to 10th February 2026, within the stipulated volume thresholds earlier communicated, will be posted to your account statement,” the notice added.
Industry watchers say the simultaneous price cut and withdrawal of volume-based incentives signal a shift by the refinery from aggressive market penetration strategies to a more stable and sustainable pricing regime as it consolidates its position in the domestic fuel market.
The development comes against the backdrop of sharp volatility in PMS prices throughout 2025 following the full deregulation of Nigeria’s downstream petroleum sector and the removal of fuel subsidies. During the period, ex-depot prices fluctuated widely, ranging from about N700 to over N800 per litre, driven by exchange rate pressures, global crude oil price movements, and heavy dependence on fuel imports.
The commencement of large-scale domestic PMS supply from the Dangote refinery late in 2025 helped ease pricing pressures, particularly in coastal and southern supply corridors, reducing reliance on import parity pricing.
At the start of 2026, the refinery had raised its PMS gantry price to N799 per litre after selling at N699 per litre during the festive season.
Analysts say the latest reduction to N774 per litre suggests easing cost pressures, improved operational efficiency, and growing competition from alternative supply sources, including imported cargoes and anticipated output from modular refineries.
With a capacity of 650,000 barrels per day, Dangote Petroleum Refinery remains Africa’s largest single-train refinery and a key pillar of Nigeria’s strategy to cut fuel imports, stabilise domestic supply, and conserve foreign exchange.
Since it began supplying PMS to the local market, the refinery has played an increasingly influential role in shaping downstream pricing, often serving as a benchmark for ex-depot petrol prices nationwide.
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