Dangote Refinery has cut petrol ex-depot price to N774/Litre as market dynamics shift in 2026.
NewsOnline Nigeria reports that 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 per litre, a move analysts describe as a strategic price adjustment amid changing market conditions in 2026.
The refinery communicated the new price to marketers on Tuesday, stating that the adjustment takes immediate effect.
In a notice issued by its Group Commercial Operations Department, Dangote Petroleum Refinery and Petrochemicals FZE informed stakeholders of the revision, confirming that the PMS gantry price had been reviewed downward.
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Independent checks on petroleumprice.ng showed that the updated price had already been reflected on industry pricing platforms as of Tuesday.
The refinery also announced the end of its PMS lifting incentive, noting that the bonus window closed at 12:00 a.m. on February 10, 2026. According to the notice, credits for volumes lifted between February 2 and February 10, within previously communicated thresholds, would be posted to marketers’ account statements.
Industry observers say the combination of a price cut and the withdrawal of volume-based incentives signals a shift toward a more stable pricing structure as the refinery strengthens its position in the domestic fuel market.
The latest adjustment comes against the backdrop of sharp PMS price volatility experienced in 2025 following the full deregulation of Nigeria’s downstream petroleum sector and the removal of fuel subsidies. During the period, ex-depot prices swung between N700 and over N800 per litre, driven by exchange rate pressures, global crude oil trends, and dependence on fuel imports.
The commencement of large-scale domestic PMS supply from the Dangote refinery later in 2025 helped moderate prices, particularly in coastal and southern regions, by easing import parity pressures.
In early 2026, the refinery had raised its PMS gantry price to N799 per litre after selling petrol at N699 per litre during the festive season.
The latest reduction to N774 per litre points to easing cost pressures, improved operational efficiency, and increasing competition from imported fuel 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 key pillar of Nigeria’s efforts to cut fuel imports, stabilise supply, and conserve foreign exchange. Since entering the domestic PMS market, the refinery has continued to play a major role in shaping downstream pricing trends across the country.
