Dangote Petroleum Refinery has reduced the ex-depot price of Premium Motor Spirit (PMS) by N25 per litre, lowering its gantry price from N799 to N774 per litre, as the company recalibrates pricing amid shifting downstream market dynamics in 2026.
The price adjustment, which takes immediate effect, was communicated to petroleum marketers on Tuesday by the refinery's Group Commercial Operations Department.
In a notice issued to its customers, Dangote Petroleum Refinery and Petrochemicals FZE stated:
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"This is to notify you of a change in our PMS gantry price from N799 per litre to N774 per litre."
Findings by LEADERSHIP show that the revised price has already been reflected on major industry pricing platforms, including petroleumprice.ng.
The refinery also announced the end of its PMS lifting incentive, marking a shift away from volume-based bonuses.
"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. Thank you for your continued partnership," the notice read.
Industry analysts say the combination of a price reduction and the closure of the lifting bonus window signals a transition towards a more stable and sustainable pricing framework, as the refinery strengthens its foothold in Nigeria's domestic fuel market.
Background to Price Movements
The latest reduction comes against the backdrop of persistent volatility in PMS prices throughout 2025, following the full deregulation of Nigeria's downstream petroleum sector and the removal of petrol subsidies.
During the year, ex-depot prices fluctuated significantly, driven by exchange rate instability, global crude oil price movements, and heavy reliance on imported fuel. At various points, ex-depot prices ranged from about N700 to over N800 per litre, while pump prices rose even higher across several parts of the country.
However, the commencement of large-scale domestic PMS supply from the Dangote refinery towards the end of 2025 helped moderate prices, particularly along coastal and southern distribution corridors, reducing pressure from import parity pricing.
In early 2026, the refinery had raised its PMS gantry price to N799 per litre, after selling petrol at N699 per litre to Nigerians during the festive season.
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Analysts say the latest N25 price cut reflects easing cost pressures, improving operational efficiency at the refinery, and growing competition from imported fuel cargoes and anticipated output from modular refineries.
With a refining 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 reduce fuel imports and conserve foreign exchange.
Since commencing PMS supply to the domestic market, the refinery has played an increasingly influential role in shaping downstream pricing, often serving as a benchmark for ex-depot rates across the country.
