Dangote Petroleum Refinery has cut its Premium Motor Spirit (PMS) gantry price by N25 per litre, reducing the ex-depot rate from N799 to N774 per litre, in what analysts describe as a strategic adjustment amid shifting market conditions in 2026.
The refinery notified marketers of the price review on Tuesday, stating that the new rate 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 confirmed that the revised price had been updated across industry pricing platforms as of Tuesday.
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The refinery also announced the end of its PMS lifting incentive. It stated that the bonus window closed at 12:00 a.m. on February 10, 2026, adding that credits for volumes loaded between February 2 and February 10 within previously communicated thresholds would be reflected in marketers’ account statements.
Industry watchers say the discontinuation of the incentive, alongside the price cut, signals a shift from volume-based incentives to a more stable pricing framework as the refinery strengthens its foothold in the domestic market.
The latest adjustment comes against the backdrop of sharp volatility in PMS pricing in 2025 following the full deregulation of the downstream sector and the removal of petrol subsidies.
Throughout much of last year, ex-depot prices fluctuated between N700 and above N800 per litre, driven by exchange rate pressures, global crude oil trends and heavy reliance on imports. Pump prices rose even higher in several parts of the country.
The commencement of large-scale domestic supply from the Dangote refinery towards the end of 2025 helped moderate prices, particularly in coastal and southern corridors, easing pressure from import parity pricing.
Earlier in 2026, the refinery had raised its PMS gantry price to N799 per litre after offering N699 per litre during the festive season.
The fresh reduction to N774 per litre suggests easing cost pressures, improved operational efficiency and growing competition from imported cargoes and anticipated output from modular refineries.
With a refining capacity of 650,000 barrels per day, Dangote Petroleum Refinery remains Africa’s largest single-train refinery and a key pillar in Nigeria’s push to curb fuel imports and conserve foreign exchange.
Since commencing PMS supply to the domestic market, the refinery has increasingly influenced downstream pricing, often setting the benchmark for ex-depot rates nationwide.
