Dangote Petroleum Refinery has reduced its Premium Motor Spirit (PMS) gantry price by N25 per litre, bringing the ex-depot rate down from N799 to N774 per litre, a move analysts say reflects shifting market conditions in 2026.
The company informed marketers of the adjustment on Tuesday, stating that the new price takes effect immediately.
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.”
Verification by News Round The Clock on petroleumprice.ng confirmed that the updated rate had been reflected on industry pricing platforms.
The refinery also announced the end of its PMS lifting incentive.
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“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 watchers say the removal of the incentive, alongside the price reduction, points to a shift away from volume-based promotions toward a more stable pricing structure as the refinery strengthens its position in the domestic market.
The price cut comes amid continued volatility in PMS pricing following the full deregulation of Nigeria’s downstream sector and the removal of petrol subsidies in 2025.
During much of last year, ex-depot prices swung widely due to exchange rate pressures, global crude oil trends, and heavy dependence on fuel imports. Prices ranged from about N700 to over N800 per litre, while pump prices rose even higher across many parts of the country.
The start of large-scale domestic supply from the Dangote refinery toward the end of 2025 helped ease prices, especially in coastal and southern regions, reducing reliance on import parity pricing.
In early 2026, the refinery had raised its PMS gantry price to N799 per litre after selling at N699 during the festive season.
The latest reduction to N774 per litre suggests declining cost pressures, improved operational efficiency, and increasing competition from imported products and anticipated supplies from modular refineries.
With a capacity of 650,000 barrels per day, Dangote Petroleum Refinery is Africa’s largest single-train refinery and a key pillar of Nigeria’s strategy to cut fuel imports and conserve foreign exchange.
Since it began supplying PMS to the local market, the refinery has played a growing role in shaping downstream pricing, often serving as a benchmark for ex-depot rates.
