Dangote Petroleum Refinery reduced its Premium Motor Spirit gantry price by N25 per litre. The company lowered the ex-depot rate from N799 to N774 per litre. Marketers received the communication on Tuesday, and the change took immediate effect.
The Group Commercial Operations Department issued a notice. It stated, “This is to notify you of a change in our PMS gantry price from N799 per litre to N774 per litre.”
Incentive Program Concluded
The refinery also ended its PMS lifting incentive. The program concluded at 12:00 a.m. on February 10, 2026. The notice explained, “Additionally, 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.”
Furthermore the department expressed appreciation. It added, “Thank you for your continued partnership.”
Context of Market Volatility
Industry analysts viewed the reduction as a strategic move. They described it amid evolving market dynamics in 2026.
The adjustment followed sharp fluctuations in 2025. Deregulation of the downstream sector and removal of petrol subsidies caused the volatility. Exchange rate pressures and global crude oil movements drove ex-depot prices between N700 and over N800 per litre.
Moreover pump prices rose higher in various regions. Dangote’s large scale domestic supply late in 2025 moderated these pressures, especially in coastal and southern areas.
Operational Efficiency and Competition
In early 2026, Dangote increased its PMS gantry price to N799 per litre. This came after a festive period rate of N699 per litre. The latest cut to N774 indicated reduced cost pressures. It also showed improved operational efficiency and rising competition from imports and modular refineries.
Dangote Petroleum Refinery operated at 650,000 barrels per day capacity. As Africa’s largest single train facility, it reduced Nigeria’s fuel imports and conserved foreign exchange.
