Dangote Petroleum Refinery has reduced the ex-depot price of Premium Motor Spirit (PMS) to ₦774 per litre, marking a ₦25 decrease from the previous rate of ₦799.
The adjustment, which takes immediate effect, was communicated to fuel marketers in a notice issued by the refinery’s Group Commercial Operations Department.
“This is to notify you of a change in our PMS gantry price from N799 per litre to N774 per litre,” the notice stated.
The refinery also informed marketers that its PMS lifting incentive has been discontinued, noting that the new pricing structure is expected to enhance the competitiveness of locally refined petroleum products.
Industry observers say the latest price review reflects ongoing market adjustments influenced largely by exchange rate movements and fluctuations in global crude oil prices. Over the past year, ex-depot petrol prices have ranged between about ₦700 and above ₦800 per litre, with corresponding effects on retail pump prices nationwide.
The 650,000-barrel-per-day Dangote Refinery—Africa’s largest—began supplying petrol to the domestic market in 2024 after earlier commencing production of diesel and aviation fuel.
The price cut comes amid broader reforms in Nigeria’s downstream sector following the removal of fuel subsidies and the liberalisation of the foreign exchange market, changes that have significantly influenced fuel pricing and overall energy costs.
