Africa’s largest petroleum refinery, Dangote Petroleum Refinery, has reduced its Premium Motor Spirit (petrol) gantry price by N25 ($0.033) per litre, lowering the ex-depot rate from NGN 799($0.59) to NGN 774 ($0.57)per litre in what industry analysts describe as a strategic recalibration amid evolving market dynamics in 2026.
In a notice issued by its Group Commercial Operations Department, Dangote Petroleum Refinery and Petrochemicals 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 informed marketers that its PMS lifting incentive had ended.
“Additionally, please note that the PMS lifting bonus ended at 12:00 a.m. on 10 February 2026. The corresponding credit for volumes loaded from 2 to 10 February 2026, within the stipulated volume thresholds earlier communicated, will be posted to your account statement. Thank you for your continued partnership,” the notice read.
Industry analysts say the closure of the bonus window, alongside the price cut, signals a shift from volume-driven incentives to a more stable pricing regime as the refinery consolidates its domestic market presence.
The latest reduction comes against a backdrop of volatile PMS pricing in 2025, following the full deregulation of the downstream sector and the removal of petrol subsidies. Prices fluctuated sharply due to exchange rate pressures, global crude oil trends, and reliance on imported fuel, with ex-depot rates ranging between N700 and over N800 per litre.
The commencement of large-scale domestic supply from the Dangote Refinery late in the year helped moderate prices, particularly along coastal and southern supply corridors.
In early 2026, Dangote’s PMS gantry price had increased to N799 per litre after selling at N699 during the festive period.
The latest N25 reduction to N774 per litre suggests easing cost pressures, improving operational efficiency, and growing competition from alternative supply channels, including imported cargoes and expected output from modular refineries.
Since commencing PMS supply to the domestic market, the refinery has increasingly shaped downstream pricing dynamics, often acting as a reference point for ex-depot rates.
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