Dangote Petroleum Refinery has reduced the gantry price of Premium Motor Spirit (PMS) by N25 per litre, bringing the ex-depot rate down from N799 to N774 per litre, in a move analysts say reflects a strategic adjustment to current market conditions.
The refinery informed petroleum marketers of the price change 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 confirmed on Tuesday that the updated price had already been reflected on pricing platforms.
The company also announced the end of its PMS lifting incentive, which had been offered to marketers.
“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 added.
Market watchers say the combination of a price reduction and the termination of the lifting bonus suggests a shift away from volume-based incentives towards a more stable pricing framework as the refinery strengthens its position in the domestic market.
The latest 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 that period, ex-depot prices swung widely, influenced by foreign exchange fluctuations, global crude oil trends, and heavy dependence on fuel imports, with rates ranging from about N700 to above N800 per litre.
The start of large-scale local supply from the Dangote refinery late in 2025 helped ease price pressures, especially in coastal and southern markets, by 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 during the festive season. The new reduction to N774 per litre points to easing cost pressures, better operational efficiency, and increasing competition from imported products and anticipated output from modular refineries.
With a processing capacity of 650,000 barrels per day, Dangote Petroleum Refinery remains Africa’s largest single-train refinery and a key element of Nigeria’s strategy to cut fuel imports and preserve foreign exchange.
Since it began supplying PMS locally, the refinery has played a growing role in shaping downstream fuel prices, increasingly serving as a benchmark for ex-depot rates nationwide.
