Dangote Petroleum Refinery has cut its ex-depot price of Premium Motor Spirit (PMS) by N25 per litre, reducing the gantry rate from N799 to N774 per litre.
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The company informed petroleum marketers of the new price on Tuesday, noting that the adjustment takes effect immediately.
In a circular issued by 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.”
The refinery also announced the end of its PMS lifting incentive scheme, which had been introduced to support volume offtake by marketers.
According to the notice, “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.”
The development comes amid continued adjustments in the petrol market following the full deregulation of the downstream sector and the removal of fuel subsidy in 2025.
Throughout much of last year, PMS prices were highly unstable, driven largely by movements in the foreign exchange market, changes in international crude oil prices and Nigeria’s dependence on imported fuel. During the period, ex-depot prices at different locations swung between about N700 and above N800 per litre, while retail pump prices rose even higher across several states.
The entry of large-scale domestic supply from the Dangote refinery towards the end of 2025 helped to ease pressure on prices, particularly in coastal and southern supply routes, and reduced reliance on import-parity benchmarks.
In the early weeks of 2026, the refinery had raised its PMS gantry price to N799 per litre after selling petrol at N699 per litre during the festive season.
Market analysts say the latest reduction to N774 per litre points to improving operational efficiency and easing cost pressures, as well as rising competition from other supply channels, including imported products and anticipated output from modular refineries.
With a processing capacity of 650,000 barrels per day, the Dangote Petroleum Refinery remains Africa’s largest single-train refinery and a central pillar of Nigeria’s drive to cut fuel imports and preserve foreign exchange.
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