The landing cost of imported Premium Motor Spirit (PMS) has now fallen below the Dangote Petroleum Refinery’s gantry price, following the refinery’s recent price adjustment, The PUNCH reports.
Data from the Major Energies Marketers Association of Nigeria show that imported petrol cost N728.88 per litre as of last week. On Monday night, the Dangote refinery raised its gantry price from N699 to N799 per litre, making it roughly N70 more expensive than imported PMS.
Consequently, MRS filling stations immediately increased their pump prices from N739 to N839 per litre, reflecting the refinery’s new pricing policy. The 650,000 barrels-per-day Lekki refinery attributed the adjustment to post-festive realignment, aiming to maintain long-term market stability and affordability.
In a statement, the refinery said:
“During the festive period, we implemented temporary price support to cushion Nigerians. Now, with the season over, PMS prices have been realigned to sustainable levels. The gantry price is N799 per litre, while MRS retail outlets are selling at N839 per litre.”
Dangote Refinery CEO David Bird reaffirmed that the facility continues to supply roughly 50 million litres of PMS daily, with nationwide distribution operating normally. He highlighted the refinery’s flexibility to process a wide range of feedstocks, ensuring uninterrupted domestic supply even during planned maintenance.
“As a domestic producer, Dangote Petroleum Refinery shields the Nigerian market from import-related volatility and supply disruptions while stabilising downstream petroleum pricing. We remain committed to energy security, price stability, and long-term value for Nigerians,” the statement added.
Prior to the adjustment, the landing cost of imported petrol exceeded Dangote’s ex-depot price of N699, making it difficult for importers to compete with Dangote-backed MRS stations. In December, Aliko Dangote reduced gantry prices by N129 to ensure Yuletide affordability, keeping retail prices below N740 and discouraging imports.
Reports indicate that import volumes fell from 52.1 million litres/day in November to 42.2 million litres/day in December, while Dangote’s domestic supply rose from 19.5 million litres/day to 32 million litres/day, demonstrating the refinery’s growing market influence.
A source within Dangote Group told The PUNCH:
“We didn’t increase prices; we simply realigned them to normal market levels after the festive season.”
However, Billy Gillis-Harry, National President of the Petroleum Products Retail Outlet Owners Association of Nigeria, suggested the price cuts were intended to consolidate Dangote’s market dominance. He urged all stakeholders to operate on a level playing field.
Dangote has consistently denied monopoly claims, asserting that he has never blocked anyone from building refineries, but argued that importing petrol when domestic tanks are full constitutes economic sabotage.
This price realignment marks another step in Dangote’s ongoing efforts to balance domestic supply, market stability, and affordability in Nigeria’s PMS sector.
