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Dangote Refinery reduces PMS price from N799 to N774 per litre
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N25 price cut seen as move to outcompete fuel importers
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Retail petrol still sells above N839 in Abuja
Dangote Refinery has reduced its Premium Motor Spirit (PMS) gantry price to N774 per litre, down from N799, in what industry observers describe as a strategic attempt to tighten competition against petrol importers.
The 650,000 barrels-per-day facility confirmed the N25 reduction in a notice issued to marketers on Tuesday.
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“This is to notify you of a change in our PMS gantry price from N799 per litre to N774 per litre,” the company stated.
The refinery also announced the conclusion of its petrol lifting bonus scheme, which had provided incentives to bulk buyers.
READ ALSO: IMF Projects Dangote Refinery to Boost Nigeria’s Non-Oil GDP by 1.5% in 2026
“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 thresholds will be posted to your account statement,” the notice added.
Despite the adjustment, market data indicates that some depot owners, including Eterna and MENJ, are currently selling petrol at N790 per litre ex-depot.
The latest price cut comes amid a noticeable drop in the landing cost of imported petrol, which averaged N721.80 per litre, according to figures released last week by the Major Energies Marketers Association of Nigeria.
However, retail prices remain significantly higher, with petrol selling between N839 and N905 per litre in Abuja, highlighting a persistent gap between depot and pump prices.
The development marks another twist in Nigeria’s evolving downstream petroleum market. In January 2026, Dangote Refinery raised its gantry price from N699 to N799 per litre, a move that triggered an upward adjustment in pump prices nationwide.
Analysts say the latest reduction signals intensified price competition in the sector as refiners and importers battle for market dominance.
