Dangote Petroleum Refinery has reduced its ex-depot price of Premium Motor Spirit (PMS) by N25 per litre, cutting the gantry rate from N799 to N774 per litre.
The company notified petroleum marketers of the new price on Tuesday, stating that the adjustment takes effect immediately.
In a circular 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.”
The refinery also announced the termination of its PMS lifting incentive scheme earlier introduced to encourage higher volume offtake by marketers.
According to the notice, “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.”
The latest price cut comes amid ongoing adjustments in Nigeria’s petrol market following the full deregulation of the downstream sector and the removal of fuel subsidy in 2025.
Throughout much of 2025, PMS prices remained volatile, driven largely by fluctuations in foreign exchange, changes in global crude oil prices and the country’s dependence on imported fuel. During the period, ex-depot prices fluctuated between about N700 and over N800 per litre, while retail pump prices climbed higher in many states.
However, the commencement of large-scale domestic supply from the Dangote refinery towards the end of 2025 helped moderate price pressures, especially along coastal and southern distribution corridors, while also reducing reliance on import-parity pricing.
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 suggests improving operational efficiency, easing cost pressures and growing competition from other supply sources, including imported products and expected 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 key driver of Nigeria’s efforts to cut fuel imports and conserve foreign exchange.