_By Adesakin Adefemi_
Dangote Petroleum Refinery has reduced its Premium Motor Spirit (PMS) gantry price by N25 per litre, lowering its ex-depot rate from N799 to N774 per litre.
The adjustment, described by industry analysts as a strategic price recalibration, comes amid evolving market dynamics in 2026 and signals a shift towards more stable pricing in Nigeria’s downstream sector.
The refinery communicated the price change to marketers on Tuesday, stating that the new rate takes immediate effect. In a notice from its Group Commercial Operations Department, Dangote Petroleum Refinery and Petrochemicals FZE confirmed, “This is to notify you of a change in our PMS gantry price from N799 per litre to N774 per litre.” Checks on (link unavailable) verified that the revised price was reflected on industry pricing platforms.
Alongside the price cut, the refinery announced the end of its PMS lifting incentive programme. “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,” the notice added, thanking marketers for their continued partnership.
The closure of the bonus window, coupled with the price reduction, signals a transition from volume-driven incentives to a more stable pricing regime. This move comes as the refinery consolidates its domestic market presence and seeks to balance market share with profitability in a fully deregulated downstream sector.
The price adjustment follows a year of volatile PMS pricing in 2025, driven by exchange rate pressures, global crude oil movements, and reliance on imported fuel.
Ex-depot prices fluctuated between N700 and over N800 per litre, with pump prices climbing higher in many parts of the country. The commencement of large-scale domestic supply from Dangote’s refinery late in 2025 helped moderate prices, particularly along coastal and southern supply corridors.
In early 2026, Dangote’s PMS gantry price had risen to N799 per litre after selling at N699 during the festive period. The latest N25 reduction to N774 per litre suggests easing cost pressures, improving operational efficiency, and 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.
Market analysts view the price cut as a positive development for consumers and businesses, potentially easing transportation costs and contributing to a reduction in inflationary pressures. Lower fuel prices could have a ripple effect on the economy, benefiting sectors such as logistics, manufacturing, and agriculture.
As the downstream sector continues to evolve, stakeholders will be watching closely to see how Dangote’s pricing strategy influences market competition and consumer prices. The refinery’s role in shaping Nigeria’s fuel supply landscape is expected to remain significant, with implications for economic stability and growth.
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