admin
Dangote Petroleum Refinery has reduced its Premium Motor Spirit gantry price by N25 per litre, lowering its ex-depot rate from N799 to N774 per litre in what industry analysts describe as a strategic price recalibration amid evolving market dynamics in 2026.
The refinery communicated the price adjustment to marketers on Tuesday, noting that the new rate takes immediate effect.
In a notice issued by its Group Commercial Operations Department, Dangote Petroleum Refinery and Petrochemicals FZE stated, “This is to notify you of a change in our PMS gantry price from N799 per litre to N774 per litre.”
Checks by The PUNCH on petroleumprice.ng on Tuesday confirmed that the revised price had been reflected on industry pricing platforms.
The refinery also informed marketers that its PMS lifting incentive had ended.
“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.
The closure of the bonus window, alongside the price cut, signals a transition from volume-driven incentives to a more stable pricing regime as the refinery consolidates its domestic market presence.
The latest reduction comes against the backdrop of volatile PMS pricing in 2025, following the full deregulation of the downstream sector and the removal of petrol subsidies.
Throughout much of 2025, PMS ex-depot prices fluctuated sharply, driven by exchange rate pressures, global crude oil movements and reliance on imported fuel. Ex-depot prices at various points ranged between N700 and over N800 per litre, while pump prices climbed even higher in several parts of the country.
The commencement of large-scale domestic supply from the Dangote refinery late in the year helped moderate prices, particularly along coastal and southern supply corridors, easing pressure on import parity pricing.
In early 2026, Dangote’s PMS gantry price had increased to N799 per litre after selling to Nigerians at N699 during the festive period.
The latest N25 cut to N774 per litre suggests easing cost pressures and improving operational efficiency, as well as growing competition from alternative supply channels, including imported cargoes and expected output from modular refineries.
Dangote Petroleum Refinery, with a capacity of 650,000 barrels per day, is Africa’s largest single-train refinery and a cornerstone of Nigeria’s drive to reduce fuel imports and conserve foreign exchange.
Since commencing PMS supply to the domestic market, the refinery has increasingly shaped downstream pricing dynamics, often acting as a reference point for ex-depot rates.
