Dangote Petroleum Refinery has announced a major price cut for Premium Motor Spirit (PMS). On Tuesday, February 10, 2026, the refinery reduced its gantry (ex-depot) price by ₦25 per litre, dropping the rate from ₦799 to ₦774 per litre.
The price adjustment, communicated to petroleum marketers via the refinery’s Group Commercial Operations Department, took immediate effect. This reduction makes locally refined petrol even more competitive compared to imports; the current landing cost of petrol from Lome stands at approximately ₦793 per litre, giving Dangote’s product a ₦19-per-litre advantage before even reaching the pumps.+1
Industry analysts suggest this move reflects improving operational efficiency at the 650,000-barrel-per-day facility and a strategic effort to consolidate the domestic market. The Independent Petroleum Marketers Association of Nigeria (IPMAN) has already welcomed the development, with National President Abubakar Maigandi Shettima noting that this will inevitably lead to a decrease in retail pump prices at filling stations nationwide, potentially settling around the ₦800–₦830 range depending on the location.
