- Dangote Petroleum Refinery reduces its PMS ex-depot price from N799 to N774 per litre, representing a N25 cut effective immediately
- The refinery formally notified marketers of the new pricing structure through its Group Commercial Operations Department
- Alongside the price reduction, Dangote announced the end of its PMS lifting incentive, with outstanding bonus credits for qualifying volumes to be posted to marketers’ accounts
Dangote Petroleum Refinery has cut its ex-depot price of Premium Motor Spirit (PMS) by N25 per litre, bringing the gantry rate down from N799 to N774 per litre in what analysts say reflects a strategic adjustment to changing market conditions in 2026.
The refinery informed marketers of the new price on Tuesday, February 10, noting that it 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.”
Checks on petroleumprice.ng on Tuesday , February 10, confirmed that the revised figure had already been updated on industry pricing platforms.
Alongside the reduction, the company announced the end of its PMS lifting incentive. The notice added, “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.”
Industry observers say the move to close the bonus window while cutting prices points to a shift away from volume-based incentives toward a more stable pricing structure as the refinery strengthens its foothold in the domestic market.
The latest adjustment comes after a turbulent period for PMS pricing in 2025, following full deregulation of Nigeria’s downstream sector and the removal of petrol subsidies.
During that year, ex-depot prices swung widely due to foreign exchange volatility, movements in global crude oil prices and continued dependence on imports. At different points, rates ranged from about N700 to above N800 per litre, while pump prices rose even higher in many parts of the country.
However, the ramp-up of large-scale domestic supply from the Dangote refinery toward the end of 2025 helped ease pricing pressures, particularly in coastal and southern supply routes, by reducing reliance on imported cargoes.
Earlier in 2026, Dangote 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 now suggests softer cost pressures, improved operating efficiency and growing competition from other supply sources, including imports 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 facility and a central pillar of Nigeria’s effort to curb fuel imports and conserve foreign exchange. Since beginning PMS deliveries to the local market, the refinery has increasingly influenced downstream pricing, often serving as a benchmark for ex-depot rates nationwide.
Dangote refinery to refund N65 per litre to marketers following petrol price reduction
Meanwhile, TheRadar earlier reported that Dangote Petroleum Refinery & Petrochemicals announced a N65 per litre refund to marketers who previously purchased Premium Motor Spirit (PMS), commonly known as petrol, at higher rates before the recent price reduction.
The initiative aimed to ensure that Nigerians benefit from more affordable fuel. The refinery recently reduced its ex-depot price from N890 per litre to N825 per litre.