Key Highlights
Dangote Refinery has reduced its petrol (PMS) ex-gantry price to N774 per litre, effective immediately.
The new price is N25 lower than the previous price of N799 per litre.
The refinery states the N774 per litre price makes locally refined petrol more competitive than imported PMS, which lands at about N793 per litre from Lome.
Earlier warnings from the company indicated that reliance on coastal logistics could potentially push pump prices to N1,000 per litre due to transportation and operational costs.
In January 2026, NNPC increased the pump price of petrol to N839 per litre in Abuja and N835 per litre in Lagos.
Dangote Petroleum Refinery has announced a reduction in the ex-gantry price of its premium motor spirit (PMS), commonly known as petrol, to N774 per litre. This adjustment, a decrease of N25 from the previous N799 per litre, is effective nationwide immediately, according to the company.
The announcement was made in a statement released on Tuesday, informing marketers of the new pricing. The refinery emphasized that this price adjustment aims to position locally refined petrol as a more economically viable alternative to imported fuels.
“This is to notify you of a change in our PMS gantry price from N799 per litre to N774 per litre,” the statement read.
The refinery further explained, “The adjustment further strengthens the competitiveness of locally refined products, as the current landing price of imported PMS from Lome stands at about N793 per litre, compared to Dangote Refinery’s ex depot price of N774 per litre.”
Dangote Refinery’s price revision follows earlier warnings this year regarding the high costs associated with coastal fuel logistics. On February 5, 2026, the company cautioned that continued reliance on coastal distribution could potentially escalate pump prices to N1,000 per litre, attributing this to increased transportation and operational expenses. The refinery projected that coastal logistics could add an additional N1.75 trillion annually to costs.
This price reduction also underscores broader efforts to bolster local refining capabilities. By setting an ex-gantry price below the cost of imported fuel, Dangote Refinery intends to make domestically produced petrol more appealing and affordable, potentially diminishing Nigeria’s dependence on fuel imports over time.
Industry experts suggest that sustained competitive pricing from Dangote could yield broader economic benefits. This strategy emphasizes the increasing significance of local refining in addressing fuel scarcity and market volatility within Nigeria.
The price adjustment is anticipated to influence retail petrol prices across the nation, with marketers likely to pass on some of the savings to consumers.
In January 2026, the Nigerian National Petroleum Company (NNPC) Limited increased the pump price of petrol to N839 per litre in Abuja. Additionally, NNPC raised the price of the product by N50, from N785 per litre to N835 in Lagos.
