Dangote Refinery has reduced its ex-depot price for Premium Motor Spirit (PMS) to N774 per litre, down from N799, marking a strategic adjustment in Nigeria’s competitive fuel market.
The 650,000 barrels-per-day facility announced the N25 per litre reduction in a notice issued on Tuesday. The change takes immediate effect, lowering the refinery’s gantry price—the rate at which fuel is sold to marketers before retail distribution.
In the same communication, the refinery confirmed the conclusion of a temporary lifting incentive. “The PMS lifting bonus ended at 12:00 a.m. on 10th February 2026,” the notice stated, adding that applicable credits for qualifying volumes loaded earlier in February would be reflected in marketers’ account statements.
The revised price positions Dangote’s product below the current ex-depot rates reported by other depot owners. According to industry platform petroleumpriceng.com, operators such as Eterna and MENJ are listing ex-depot prices around N790 per litre. This differential may enhance the refinery’s appeal to petroleum marketers.
The move follows a recent decline in the landed cost of imported petrol, which averaged N721.80 per litre, according to data from the Major Energies Marketers Association of Nigeria (MEMAN). Despite lower international prices and Dangote’s domestic price cut, retail prices across the country, including in Abuja, remain substantially higher, ranging from N839 to N905 per litre.
This price review reverses a previous increase. In January 2026, Dangote Refinery had raised its gantry price to N799 per litre from N699, a change that contributed to a rise in retail fuel costs nationwide.
Dangote’s latest adjustment underscores the growing influence of local refining on Nigeria’s fuel supply dynamics. By offering a lower wholesale price, the refinery is intensifying competition with fuel importers—a sector that has historically dominated the market. The development highlights a potential shift toward greater price stability and supply security, though the extent to which lower ex-depot rates translate to reduced retail prices will depend on additional logistics and marketing costs. The action is being closely watched by industry stakeholders and consumers alike as a key indicator of the refinery’s long-term impact on the nation’s energy economy.
