Dangote Refinery Cuts Petrol Ex-Depot Price to ₦774 per Litre Amid Rising Competition with Importers

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Dangote Petroleum Refinery has reduced the ex-depot price of its Premium Motor Spirit (PMS), also known as petrol from ₦799 to ₦774 per litre, reflecting a ₦25 cut.

The refinery made this known in a notice sent to marketers on Tuesday, February 10.

According to the refinery management, the price adjustment takes immediate effect.

Pinnacle Daily reports that this comes two weeks after the refinery raised its petrol price at the gantry by ₦100 from ₦699 to ₦799 per litre.

The refinery, which had previously slashed prices to ₦699 in December from ₦828 to support Nigerians during the festive season, said the adjustment in January was a “modest realignment” to ensure long-term sustainability.

It then expressed disappointment that despite the price cut during the festive season, many filling stations failed to reflect the price at the pump, denying Nigerians the benefit of the reduction.

Following the rising competition by importers who cut prices recently, the refinery announced a fresh price cut of ₦25 per litre.

“This is to notify you of a change in our PMS gantry price from N799 per litre to N774 per litre,” the refinery stated in a notice to marketers on Tuesday.

This move aims to reclaim its competitive edge after reports emerged that the landing cost of imported petrol had dropped significantly, briefly making foreign fuel cheaper than locally refined products.

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The landing cost of imported petrol as of Monday, February 9, 2026, averaged ₦721.93, according to the Major Energies Marketers Association of Nigeria (MEMAN), Competency Centre’s Energy Bulletin.

This showed a ₦77.07 per liter price gap between imported fuel and Dangote Refinery.

The refinery said its latest adjustment of ₦774 per litre further strengthens the competitiveness of locally refined products.

This latest reduction is expected to trigger another round of price adjustments at retail stations, particularly those partnered with the refinery, like MRS, which currently sells between ₦839 and ₦825 per litre across the country.

Some filling stations owned by independent marketers in some parts of the country reportedly sold between N815 and N834 per litre over the weekend.

Industry analysts note that while the landing cost of imported fuel averaged ₦721.93, the refinery’s move to ₦774 reflects a sustainable realignment.

President of the Dangote Group, Aliko Dangote, had previously described the continued issuance of import licenses as “economic sabotage,” arguing that his refinery has enough capacity to meet Nigeria’s demand.

He also claimed that marketers engage in the importation of substandard petroleum products and called for a halt to what he described as “dumping”.

However, marketers argue that as long as imports are cheaper, they are entitled to source the most affordable product for consumers.

The refinery also recently said marketers are free to choose whether to load products from its gantry or through the coastal route. It, however, warned that over-reliance on coastal imports—which includes maritime levies and vessel costs—could eventually push retail prices up to ₦1,000 per litre.

It also reaffirmed its capacity to supply over 50 million litres of petrol and 14 million litres of diesel daily, assuring 24-hour loading operations

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Victor EZEJA

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Victor Ezeja is a passionate journalist, scholar and analyst of socioeconomic issues in Nigeria and Africa. He is skilled in energy reporting, business and economy, and holds a master's degree in mass communication.