Dangote Petroleum Refinery has reduced its Premium Motor Spirit gantry price by N25 per litre, lowering its ex-depot rate from N799 to N774 per litre in what industry analysts describe as a strategic price recalibration amid evolving market dynamics in 2026. The refinery communicated the price adjustment to marketers on Tuesday, noting that the new rate takes immediate effect. The latest reduction comes against the backdrop of volatile PMS pricing in 2025, following the full deregulation of the downstream sector and the removal of petrol subsidies. Throughout much of 2025, PMS ex-depot prices fluctuated sharply, driven by exchange rate pressures, global crude oil movements and reliance on imported fuel. Dangote Petroleum Refinery, with a capacity of 650,000 barrels per day, is Africa’s largest single-train refinery and a cornerstone of Nigeria’s drive to reduce fuel imports and conserve foreign exchange.

Source: Punch February 10, 2026 20:24 UTC