Dangote Petroleum Refinery has reduced its Premium Motor Spirit (petrol) gantry price by N25 per litre, lowering the ex-depot rate from N799 to N774 per litre in what industry analysts describe as a strategic recalibration amid evolving market dynamics in 2026.
The refinery communicated the price adjustment to marketers on Tuesday, as it also announced plans for a new business investment in Burundi. The refinery stated that the new PMS price takes immediate effect.
In a notice issued by its Group Commercial Operations Department, Dangote Petroleum Refinery and Petrochemicals FZE stated, “This is to notify you of a change in our PMS gantry price from N799 per litre to N774 per litre.”
Checks by The PUNCH on petroleumprice.ng confirmed that the revised price had already been reflected on industry pricing platforms.
The refinery also informed marketers that its PMS lifting incentive had ended. “Additionally, please note that the PMS lifting bonus ended at 12:00 a.m. on 10th February 2026. The corresponding credit for volumes loaded from 2nd to 10th February 2026, within the stipulated volume thresholds earlier communicated, will be posted to your account statement. Thank you for your continued partnership,” the notice read.
Industry analysts say the closure of the bonus window, alongside the price cut, signals a shift from volume-driven incentives to a more stable pricing regime as the refinery consolidates its domestic market presence.
The latest reduction comes against a backdrop of volatile PMS pricing in 2025, following the full deregulation of the downstream sector and the removal of petrol subsidies.
Prices fluctuated sharply due to exchange rate pressures, global crude oil movements, and reliance on imported fuel, with ex-depot rates ranging between N700 and over N800 per litre. The commencement of large-scale domestic supply from the Dangote refinery late in the year helped moderate prices, particularly along coastal and southern supply corridors.
In early 2026, Dangote’s PMS gantry price had increased to N799 per litre after selling to Nigerians at N699 during the festive period. The latest N25 cut to N774 per litre suggests easing cost pressures, improving operational efficiency, and growing competition from alternative supply channels, including imported cargoes and expected output from modular refineries.
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. Since commencing PMS supply to the domestic market, the refinery has increasingly shaped downstream pricing dynamics, often acting as a reference point for ex-depot rates.
In a separate development, the President of the Dangote Group, Aliko Dangote, is planning a new business investment in Burundi. He visited the East African country with former President Olusegun Obasanjo to explore investment opportunities and cement plans for expanding the group’s presence across the continent.
In a statement, the Dangote Group said the visit included high-level talks with Burundian President Evariste Ndayishimiye at the presidential palace. Dangote described the mission as both diplomatic and economic in scope, noting that two dedicated technical teams—one representing Burundi and the other the Dangote Group—have been constituted to identify priority sectors and develop viable investment projects.
“Our focus really is investing heavily in the African continent, not anywhere else, and so Burundi is part and parcel of that African region,” Dangote reportedly said. He highlighted strong potential in solid minerals, power generation, agriculture, cement production, and infrastructure development, emphasising the goal of building a mutually beneficial partnership that drives shared prosperity.
The statement added that discussions centred on strategic cooperation in infrastructure, logistics, industrialisation, and energy—areas that Burundi considers essential to its long-term economic transformation. The engagement aligns with the country’s broader ambition to attract large-scale private sector investment and strengthen ties with leading African industrial players.
Observers widely view the engagement as a landmark moment, positioning Burundi as a credible destination for African mega-investors and integrating the country more firmly into Dangote’s continental expansion strategy.
Together, the PMS price reduction and the Burundi investment initiative illustrate Dangote’s dual focus: consolidating domestic market influence while actively pursuing strategic continental growth opportunities.
Leave a comment