Dangote Petroleum Refinery has reduced its Premium Motor Spirit (PMS) ex-depot price to N774 per litre, slashing N25 from the previous N799 rate in a strategic move that could reshape Nigeria’s downstream fuel market in 2026.
The price adjustment, which takes immediate effect, was formally communicated to fuel marketers on Tuesday.
Dangote Announces Immediate PMS Price Reduction
In a notice issued by its Group Commercial Operations Department, Dangote Petroleum Refinery and Petrochemicals FZE confirmed the downward review of its gantry price.
“This is to notify you of a change in our PMS gantry price from N799 per litre to N774 per litre,” the statement read.
Industry platform petroleumprice.ng has already reflected the revised rate, confirming the implementation of the new ex-depot pricing structure.
PMS Lifting Bonus Ends as Refinery Shifts Pricing Strategy
Alongside the petrol price cut, the refinery announced the conclusion of its PMS lifting incentive programme.
According to the notice:
The bonus window ended at 12:00 a.m. on February 10, 2026
Credits for eligible volumes lifted between February 2 and February 10 will be applied to marketers’ account statements
The discontinuation of the volume-based incentive signals a transition toward a more stable pricing model as Dangote consolidates its dominance in Nigeria’s deregulated petroleum sector.
Impact on Nigeria’s Deregulated Fuel Market
The latest petrol price reduction comes amid continued volatility in Nigeria’s downstream oil sector following the full deregulation of PMS and removal of fuel subsidies in 2025.
Throughout 2025, ex-depot petrol prices fluctuated sharply due to:
Exchange rate instability
Global crude oil price movements
Heavy reliance on fuel imports
Import parity pricing pressures
During that period, ex-depot prices ranged between N700 and over N800 per litre, while pump prices surged even higher nationwide.
However, the commencement of large-scale domestic PMS supply from the 650,000 barrels-per-day Dangote Refinery helped moderate prices, particularly in southern and coastal supply corridors.
From N699 to N799 — Now N774: What Changed?
Earlier in 2026, Dangote raised its PMS gantry price to N799 per litre after offering Nigerians petrol at N699 during the festive season.
The latest N25 reduction to N774 per litre suggests:
Easing operational and input cost pressures
Improved refining efficiency
Increased competition from imported cargoes
Expected output from modular refineries
Analysts describe the move as a strategic recalibration aimed at strengthening market share while stabilizing domestic fuel supply.
Dangote Refinery’s Growing Influence on Fuel Pricing
As Africa’s largest single-train refinery, Dangote Petroleum Refinery remains central to Nigeria’s strategy to:
Reduce fuel imports
Conserve foreign exchange
Achieve downstream self-sufficiency
Stabilize petrol pump prices
Since commencing domestic PMS distribution, the refinery has increasingly acted as a benchmark for ex-depot petrol pricing, shaping market trends across the country.
With this latest price cut, industry observers will be watching closely to see whether retail pump prices follow suit.
