Reported By Mary Udezue | Edited by: Gabriel Osa
Dangote Petroleum Refinery has announced a reduction in the ex-gantry price of Premium Motor Spirit (PMS), commonly known as petrol, lowering its rate by ₦25 per litre from ₦799 to ₦774. This adjustment was confirmed in an official notice issued to petroleum marketers on Tuesday, February 10, 2026, and takes effect immediately nationwide.
In the notice, the refinery’s Group Commercial Operations Department informed marketers of the change, stating: “This is to notify you of a change in our PMS gantry price from ₦799 per litre to ₦774 per litre.” The price revision reflects Dangote Refinery’s ongoing efforts to remain competitive within Nigeria’s liberalised downstream fuel market.
Industry analysts say the reduced ex-depot price enhances the competitiveness of locally refined petrol compared with imported products. According to market data cited alongside the announcement, the current landing cost of imported PMS from Lome, Togo, is estimated at about ₦793 per litre, making Dangote’s new ex-depot rate of ₦774 per litre more attractive to marketers and potentially to consumers once retail prices are adjusted.
The refinery also communicated that its previous PMS lifting incentive programme has ended, a move that accompanies the price adjustment as part of broader efforts to adapt commercial strategies to evolving market dynamics.
This reduction comes amid a backdrop of fluctuating fuel prices in Nigeria since the removal of subsidies and full deregulation of the downstream petroleum sector in 2025. Local refining by Dangote, the largest single-train refinery in Africa with a capacity of 650,000 barrels per day, has been a major factor in moderating domestic PMS prices, reducing dependence on imported fuel and helping stabilise ex-depot benchmarks.
The price cut is expected to influence retail pump prices in the coming days, depending on how marketers adjust their pricing structures. Observers suggest that the move could provide some relief at the forecourt for motorists if distribution and logistics costs align with the lower ex-depot rate.
📩 Stone Reporters News | 🌍 stonereportersnews.com
✉️ info@stonereportersnews.com | 📘 Facebook: Stone Reporters | 🐦 X (Twitter): @StoneReportNew | 📸 Instagram: @stonereportersnews
Add comment
Comments