Lagos, Nigeria – February 11, 2026 — Dangote Petroleum Refinery and Petrochemicals FZE has reduced the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, by N25 per litre, bringing the new gantry rate down from N799 to N774 per litre. The adjustment, which takes effect immediately, was formally communicated to petroleum marketers on Tuesday via an official circular from the company’s Group Commercial Operations Department.
In the circular, Dangote Refinery stated: “This is to notify you of a change in our PMS gantry price from N799 per litre to N774 per litre.” The notice did not provide specific reasons for the price reduction but comes at a time when domestic refining output, market competition, and fluctuations in global crude oil prices continue to influence pump prices across Nigeria.
The Dangote Petroleum Refinery, located in the Lekki Free Trade Zone in Lagos, is Africa’s largest single-train refinery with a nameplate capacity of 650,000 barrels per day. Since achieving full production and beginning sustained supply of PMS to the domestic market in late 2024, the facility has gradually increased its share of petrol distribution, helping to ease reliance on imported petroleum products.
The latest price cut follows a series of incremental adjustments by the refinery over the past months. In recent weeks, Dangote had maintained relatively stable gantry prices despite volatility in international crude benchmarks and foreign exchange rates. The N25 reduction is seen by industry observers as a strategic move to maintain competitiveness against imported petrol and other domestic suppliers, while also responding to consumer pressure for more affordable fuel amid persistent economic challenges.
Petroleum marketers who received the circular have begun updating their retail pricing structures accordingly. However, the final pump price at filling stations will still reflect additional costs such as transportation, taxes, dealer margins, and any applicable state or local levies. Analysts expect the reduction to translate into a modest drop at the retail level—likely in the range of N20 to N30 per litre—depending on location and individual station pricing policies.
The development is particularly significant given Nigeria’s ongoing efforts to achieve self-sufficiency in refined petroleum products. For decades, the country has been one of the world’s largest importers of petrol despite being a major crude oil producer. Imported volumes often expose consumers to exchange rate fluctuations and global supply chain disruptions.
Dangote Refinery’s growing output has already contributed to a noticeable decline in petrol import volumes and helped stabilize supply in many parts of the country. The facility produces not only PMS but also diesel, aviation fuel, and other petroleum products, with plans to expand into petrochemicals in the coming years.
Market watchers note that the price reduction arrives against the backdrop of relatively softer crude oil prices in recent weeks and a more stable naira exchange rate in the parallel market compared to earlier periods of extreme volatility. These factors have provided some breathing room for domestic refiners to adjust pricing without incurring significant losses.
The Nigerian National Petroleum Company Limited (NNPCL) and other major importers have also been active in the market, but Dangote’s ability to supply large volumes directly from its Lekki facility has strengthened its position as a key player in the downstream sector. The refinery has consistently emphasized its commitment to competitive pricing aimed at benefiting Nigerian consumers and supporting economic recovery.
Industry stakeholders have welcomed the price adjustment as a positive signal. The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) and other marketer groups have previously called on major suppliers to pass on cost savings to end-users whenever possible. The N25 cut is likely to be viewed as a step in that direction, even if the full impact at the pump remains subject to additional variables.
Consumers in major cities such as Lagos, Abuja, Port Harcourt, and Kano are expected to begin seeing the effects of the new gantry price within days as marketers adjust their stock and pricing boards. However, rural and remote areas—where transportation costs are higher—may experience a more delayed or muted benefit.
Dangote Refinery has not indicated whether further price adjustments are forthcoming in the near term. The company has maintained that its pricing decisions are guided by production costs, global market trends, foreign exchange realities, and the need to sustain long-term viability of operations.
The latest move is likely to intensify competition in Nigeria’s downstream petroleum sector, which has seen increasing participation from private players since the deregulation of petrol pricing in 2023. With Dangote Refinery ramping up output and other modular refineries gradually coming online, the market is slowly shifting toward greater domestic supply and potentially more responsive pricing dynamics.
For now, the N25 reduction offers some relief to motorists and businesses that rely heavily on petrol for transportation and power generation. As Nigeria continues its transition toward refined product self-sufficiency, developments at the Dangote facility will remain closely watched by consumers, industry participants, and policymakers alike.
