Dangote Petroleum Refinery has reduced its Premium Motor Spirit (PMS) gantry price by N25 per litre, bringing the ex-depot rate down from N799 to N774, in what analysts describe as a strategic recalibration amid evolving market dynamics in 2026.
The refinery informed marketers of the adjustment on Tuesday, noting that the new rate takes immediate effect. In a notice from 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 on petroleumprice.ng confirmed that the revised price has been updated across industry platforms.
The notice also announced the end of the PMS lifting incentive: “Please note that the PMS lifting bonus ended at 12:00 a.m. on 10th February 2026. Corresponding credits for volumes loaded from 2nd to 10th February 2026, within the stipulated volume thresholds, will be posted to your account statement. Thank you for your continued partnership.”
The closure of the bonus window, alongside the price cut, marks a shift from volume-driven incentives to a more stable pricing framework as the refinery consolidates its domestic market position.
The reduction comes after a year of volatile PMS pricing following the full deregulation of the downstream sector and removal of petrol subsidies. Throughout 2025, ex-depot PMS prices ranged between N700 and over N800 per litre, with pump prices often climbing higher due to exchange rate fluctuations, global crude movements, and reliance on imports.
The start of large-scale domestic supply from Dangote’s refinery late last year helped moderate prices, particularly along coastal and southern corridors, easing import-parity pressures. Early 2026 saw PMS ex-depot prices rise to N799 per litre after festive-period sales at N699. The latest cut to N774 suggests easing cost pressures, improved operational efficiency, and growing competition from imports and modular refinery outputs.
With a capacity of 650,000 barrels per day, Dangote Petroleum Refinery is Africa’s largest single-train refinery and a key driver of Nigeria’s strategy to reduce fuel imports and conserve foreign exchange. Since entering the domestic market, the refinery has increasingly influenced downstream pricing, often serving as a benchmark for ex-depot rates.
