Dangote Petroleum Refinery has announced a reduction in its Premium Motor Spirit (PMS) gantry price, cutting the ex-depot rate by ₦25 per litre from ₦799 to ₦774, signalling a fresh adjustment in downstream pricing dynamics.
The refinery confirmed that the revised price took immediate effect, notifying petroleum marketers of the change through an official communication issued on Tuesday.
In the notice signed by its Group Commercial Operations Department, Dangote Petroleum Refinery and Petrochemicals FZE stated that the price revision reflects updated market conditions affecting domestic fuel supply. Industry pricing platform petroleumprice.ng confirmed that the new PMS price had already been reflected across market data systems.
PMS Lifting Bonus Ends
Alongside the price cut, the refinery disclosed that its PMS lifting incentive scheme had been discontinued. According to the notice, the lifting bonus ended at 12:00 a.m. on February 10, 2026, with credits for volumes lifted between February 2 and February 10, 2026, within previously communicated thresholds, set to be applied to marketers’ account statements.
Market analysts interpret the move as a transition away from volume-based incentives toward a more stable and predictable pricing framework as the refinery consolidates its footprint in Nigeria’s domestic fuel market.
Context of Deregulation and Price Volatility
The latest price adjustment comes against the backdrop of sustained volatility in Nigeria’s PMS pricing following the full deregulation of the downstream sector and the removal of petrol subsidies in 2025.
Throughout much of last year, ex-depot prices fluctuated widely due to exchange rate pressures, movements in global crude oil prices, and reliance on imported fuel, with prices oscillating between ₦700 and above ₦800 per litre. Retail pump prices climbed even higher in several regions.
The commencement of large-scale domestic PMS supply from the Dangote refinery toward the end of 2025 played a stabilising role, particularly in coastal and southern markets, easing dependence on import-parity pricing.
Early 2026 Developments
At the start of 2026, Dangote Refinery had raised its PMS gantry price to ₦799 per litre, following a period in which fuel was sold at ₦699 per litre during the festive season.
The latest reduction to ₦774 per litre suggests easing cost pressures, improved operational efficiencies, and growing competitive dynamics, including supply from imported cargoes and anticipated output from modular refineries.
With a capacity of 650,000 barrels per day, Dangote Petroleum Refinery remains Africa’s largest single-train refinery and a central pillar of Nigeria’s strategy to curb fuel imports and conserve foreign exchange.
Since commencing domestic PMS supply, the refinery has increasingly influenced downstream pricing, often serving as a benchmark for ex-depot rates across the industry.
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