KEY POINTS
- Dangote Refinery lowers PMS ex-depot price from N799 to N774 per litre and ends the lifting incentive scheme.
- Price cut reflects improved operational efficiency, easing cost pressures, and rising competition from other suppliers.
- The refinery, processing 650,000 barrels daily, continues to reduce Nigeria’s reliance on imported fuel.
Dangote Reduces Ex-Depot Petrol Price
Dangote Petroleum Refinery has reduced the ex-depot price of Premium Motor Spirit (PMS) by N25 per litre, lowering the gantry price from N799 to N774 per litre.
The refinery informed petroleum marketers of the new rate on Tuesday, noting that the change takes effect immediately.
In a circular issued by its Group Commercial Operations Department, Dangote Petroleum Refinery and Petrochemicals FZE also announced the end of its PMS lifting incentive scheme.
The company stated that credits for volumes loaded between February 2 and 10, 2026, will be posted to marketers’ accounts, signaling the conclusion of the support program aimed at boosting fuel offtake.
Market Context and Impact
The price adjustment comes amid ongoing shifts in Nigeria’s fuel market following full deregulation of the downstream sector and the removal of fuel subsidies in 2025.
Last year, PMS prices were highly volatile due to foreign exchange fluctuations, international crude oil prices, and reliance on imported fuel.
The Dangote refinery’s large-scale domestic supply, particularly to coastal and southern routes, has helped ease price pressure and reduce dependence on import-parity benchmarks.
After temporarily raising its gantry price to N799 per litre in early 2026, the latest reduction to N774 per litre reflects improving operational efficiency, lower cost pressures, and increasing competition from other supply channels, including imported petrol and modular refineries.
With a processing capacity of 650,000 barrels per day, the Dangote Refinery remains Africa’s largest single-train refinery and a key driver of Nigeria’s push to reduce fuel imports.
