Fuel Relief: Dangote Refinery Slashes Petrol Price to ₦774 Per Litre!

In a massive win for Nigerian motorists, the Dangote Petroleum Refinery has officially announced a price cut for its Premium Motor Spirit (PMS)! This strategic move, effective Tuesday, February 10, 2026, sees the gantry price drop from ₦799 to ₦774 per litre—a significant ₦25 reduction that is already sending ripples through the downstream sector.

The Breakdown: Why the Price Drop?

Industry analysts suggest this ₦25 slash isn’t just a random act of kindness; it’s a calculated masterstroke to dominate the local market. Here’s what’s happening behind the scenes:

Strategic Competition: By dropping to ₦774, Dangote is directly undercutting the landing cost of imported petrol (recently pegged at around ₦793 per litre from Lome), making local refining the more attractive option for marketers.
Operational Efficiency: The reduction reflects improving stability at the 650,000 barrels-per-day facility as it ramps up large-scale domestic supply.
The “Lifting Bonus” Trade-off: While the price is down, the refinery also announced that the PMS lifting incentive (a bonus for high-volume buyers) officially ended at midnight today. It seems the refinery is moving away from volume-based perks toward a more stable, lower baseline price for everyone.

What This Means for Your Pocket

While the ex-depot price is now ₦774, what you pay at the pump will depend on your location and the marketer’s logistics.

Fuel Relief: Dangote Refinery Slashes Petrol Price to ₦774 Per Litre!