Dangote Cuts Petrol Price to N774 per Litre, Expands Investment Drive to Burundi
Dangote Petroleum Refinery has reduced its petrol price by N25 per litre, lowering the ex-depot rate from N799 to N774 per litre in a move seen as a strategic adjustment to Nigeria’s evolving fuel market. The new Premium Motor Spirit (PMS) price takes immediate effect, according to a notice sent to marketers on Tuesday. Industry observers say the Dangote petrol price cut reflects improving operational efficiency and changing market conditions in 2026.
The refinery confirmed the adjustment in a statement issued by its Group Commercial Operations Department, noting that the revised price has already been reflected across petroleum pricing platforms. However, it also announced the end of its PMS lifting bonus incentive, which expired at midnight on February 10, 2026. Marketers who met earlier volume targets between February 2 and 10 will receive corresponding credits, signaling a transition away from volume-based incentives toward a more stable pricing structure.
The latest reduction comes after a turbulent 2025 for Nigeria’s downstream petroleum sector. Following the full deregulation of fuel prices and the removal of subsidies, petrol prices fluctuated sharply, driven by exchange rate volatility, global crude oil trends, and reliance on imports. Ex-depot rates swung between N700 and above N800 per litre. With the Dangote Refinery’s large-scale domestic supply coming on stream late last year, market pressures began to ease, especially in southern distribution corridors.
With a refining capacity of 650,000 barrels per day, Dangote Refinery remains Africa’s largest single-train refinery and a critical pillar of Nigeria’s ambition to cut fuel imports and conserve foreign exchange. Since entering the domestic PMS market, the refinery has increasingly influenced pricing benchmarks, often setting the tone for ex-depot rates nationwide. The current Dangote petrol price cut reinforces its growing dominance in shaping downstream market dynamics.
Beyond Nigeria’s borders, Dangote Group is also deepening its continental footprint. Group President Aliko Dangote recently visited Burundi alongside former President Olusegun Obasanjo to explore new investment opportunities. During high-level talks with Burundian President Evariste Ndayishimiye, both sides agreed to set up technical teams to identify priority sectors, including solid minerals, energy, agriculture, cement production, and infrastructure. The dual developments — a petrol price cut at home and expansion plans abroad — highlight Dangote’s strategy of consolidating domestic leadership while pursuing broader African growth opportunities.