BREAKING: Dangote Refinery reduces petrol price to stay ahead of importers

Dangote Refinery has reduced the gantry price of Premium Motor Spirit (PMS) to N774 per litre from N799, marking a fresh attempt to remain competitive against fuel importers in the Nigerian market.

The 650,000 barrels-per-day facility announced the price adjustment in a notice issued on Tuesday, confirming a N25 per litre reduction at its loading gantry.

“This is to notify you of a change in our PMS gantry price from N799 per liter to N774 per liter,” the refinery said.

In the same notice, the refinery also informed marketers that its petrol lifting incentive had come to an end.

“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. Thank you for your continued partnership,” it added.

Despite the reduction by Dangote Refinery, ex-depot prices at other facilities remain higher. Depot operators such as Eterna and MENJ are selling petrol at about N790 per litre, according to figures published by petroleumpriceng.com.

The price cut comes amid a drop in the landing cost of imported petrol, which recently fell to an average of N721.80 per litre, based on data released last Friday by the Major Energies Marketers Association of Nigeria.

However, pump prices have yet to reflect the reduction, as petrol continues to sell between N839 and N905 per litre across Abuja.

It will be recalled that in January 2026, Dangote Refinery raised its gantry price from N699 to N799 per litre, a move that led to a nationwide increase in retail fuel prices.

Dangote Refinery has reduced the gantry price of Premium Motor Spirit (PMS) to N774 per litre from N799, marking a fresh attempt to remain competitive against fuel importers in the Nigerian market.

The 650,000 barrels-per-day facility announced the price adjustment in a notice issued on Tuesday, confirming a N25 per litre reduction at its loading gantry.

“This is to notify you of a change in our PMS gantry price from N799 per liter to N774 per liter,” the refinery said.

In the same notice, the refinery also informed marketers that its petrol lifting incentive had come to an end.

“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. Thank you for your continued partnership,” it added.

Despite the reduction by Dangote Refinery, ex-depot prices at other facilities remain higher. Depot operators such as Eterna and MENJ are selling petrol at about N790 per litre, according to figures published by petroleumpriceng.com.

The price cut comes amid a drop in the landing cost of imported petrol, which recently fell to an average of N721.80 per litre, based on data released last Friday by the Major Energies Marketers Association of Nigeria.

However, pump prices have yet to reflect the reduction, as petrol continues to sell between N839 and N905 per litre across Abuja.

It will be recalled that in January 2026, Dangote Refinery raised its gantry price from N699 to N799 per litre, a move that led to a nationwide increase in retail fuel prices.