… Dangote refinery stated, “This is to notify you of a change in our PMS gantry price from N799 per litre to N774 per litre.”
LAGOS, NIGERIA- The iNews Times | Dangote Petroleum Refinery has cut its Premium Motor Spirit (PMS) gantry price by N25 per litre, reducing the ex-depot rate from N799 to N774 per litre. Industry analysts describe the move as a strategic adjustment in response to changing market conditions in 2026.
The refinery informed marketers of the price change on Tuesday and announced that the new rate takes immediate effect. It also revealed plans for a fresh business investment in Burundi.
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.”
The refinery further notified marketers that its PMS lifting bonus 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 statement read.
Analysts say the end of the bonus scheme, alongside the price reduction, indicates a transition from volume-based incentives to a more stable pricing structure as the refinery strengthens its foothold in the domestic market.
The price cut comes amid the volatility that characterised PMS pricing in 2025, following full deregulation of the downstream sector and the removal of petrol subsidies. Prices swung sharply due to exchange rate fluctuations, global crude oil trends, and continued dependence on fuel imports, with ex-depot rates ranging between N700 and above N800 per litre. However, increased domestic supply from the Dangote refinery toward the end of the year helped stabilise prices, particularly in coastal and southern regions.
Earlier in 2026, the refinery had raised its gantry price to N799 per litre after offering petrol at N699 during the festive season. The latest reduction to N774 per litre suggests easing cost pressures, improved operational efficiency, and rising competition from imported cargoes and anticipated output from modular refineries.
With a refining capacity of 650,000 barrels per day, Dangote Petroleum Refinery remains Africa’s largest single-train refinery and a key component of Nigeria’s efforts to cut fuel imports and conserve foreign exchange. Since commencing domestic PMS supply, it has played a central role in shaping downstream pricing trends, often serving as a benchmark for ex-depot rates.
Meanwhile, President of the Dangote Group, Aliko Dangote, is exploring new investment opportunities in Burundi. He recently visited the East African nation alongside former President Olusegun Obasanjo to discuss potential projects and expand the group’s continental footprint.
According to a statement from the Dangote Group, the visit featured high-level discussions with Burundian President Evariste Ndayishimiye at the presidential palace. Dangote described the mission as both diplomatic and economic, disclosing that two technical teams, one from Burundi and another from the Dangote Group have been set up to identify priority sectors and develop viable investment proposals.
“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 was quoted as saying. He identified solid minerals, power generation, agriculture, cement production, and infrastructure as key areas of opportunity, stressing the aim of fostering mutually beneficial partnerships that promote shared growth.
The statement added that talks centred on strategic collaboration in infrastructure, logistics, industrialisation, and energy sectors viewed by Burundi as critical to its long-term economic transformation. The engagement aligns with the country’s drive to attract major private sector investments and deepen ties with leading African industrial players.
Observers see the move as a significant development, positioning Burundi as an emerging destination for large-scale African investors and reinforcing Dangote’s broader expansion strategy across the continent.
Together, the PMS price cut and the planned Burundi investment underscore Dangote’s dual strategy of consolidating its domestic market influence while pursuing strategic growth opportunities across Africa.
