Dangote Petroleum Refinery has reduced the ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, from ₦799 to ₦774 per litre.
The new pricing took effect on Tuesday, following a circular issued by the refinery's Group Commercial Operations Department to petroleum marketers. The notice also confirmed the discontinuation of the PMS lifting incentive scheme, which had been introduced to support sales volume.
This price adjustment occurs in the context of Nigeria's fully deregulated downstream petroleum sector, following the removal of the fuel subsidy in 2025. Throughout last year, petrol prices were highly volatile, influenced by foreign exchange rates and international crude oil prices, with retail prices often exceeding ₦800 per litre in many areas.
The significant entry of the Dangote Refinery into the domestic market in late 2025 helped stabilize supply, particularly in southern regions, and reduced reliance on imported petrol. After a festive season price of ₦699 per litre, the refinery had increased its rate to ₦799 in early 2026.
Market analysts suggest the latest reduction to ₦774 reflects improving operational efficiency, easing cost pressures, and growing competition from other supply sources, including imports and upcoming modular refinery production.
With a processing capacity of 650,000 barrels per day, the Dangote Refinery is a central component of Nigeria's strategy to achieve fuel self-sufficiency and conserve foreign exchange.
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