Dangote Petroleum raises PMS price to N799 per litre as imported petrol costs fall below refinery gantry rate, ending festive discount and realigning market prices
Dangote Petroleum Refinery has increased its ex-depot price of Premium Motor Spirit (PMS) to N799 per litre following the conclusion of a temporary festive-period discount, even as the landing cost of imported petrol fell to N728.88 per litre, below the refinery’s new rate.
The Lekki-based facility raised its gantry price from N699 to N799 per litre on Monday, creating a price gap of about N70 per litre between imported and locally refined petrol.
Retail partner MRS Oil has implemented the adjustment, selling PMS at N839 per litre, up from N739 per litre recorded on Monday.
The refinery said the earlier festive discount was introduced to cushion consumers during heightened year-end spending and was never intended as a permanent price.
“With the festive period concluded, PMS prices have been realigned to sustainable levels,” the company said.
Chief Executive Officer David Bird explained that Dangote Petroleum continues to supply about 50 million litres of petrol daily to the domestic market.
He added that the refinery’s flexible design allows it to process a wide range of crude and intermediate feedstocks, ensuring continuous PMS production even during planned maintenance.
Dangote Petroleum emphasised its role in shielding the market from import-related volatility.
In December, the refinery reduced prices by N129 per litre to ensure petrol sold for no more than N740 per litre, which also led to a decline in import volumes from 52.1 million litres per day in November to 42.2 million litres in December.
Industry stakeholders, however, remain cautious. Billy Gillis-Harry, National President of the Petroleum Products Retail Outlet Owners Association of Nigeria, warned that dominance by a single supplier could create risks for consumers and called for a level playing field.
While the landing cost of imported petrol is now cheaper on paper, market analysts say it is unclear whether importers will pass the savings to consumers or price competitively against Dangote-backed outlets in the coming weeks.
Fresh concerns have emerged over compliance with a court order issued by the High Court of Kano State on April 8, 2026, restraining key parties—including the Honourable Minister of Education, the Kano State Ministry of Land and Physical Planning, the Kano State Urban Development Authority, and Pluck Global Company Limited—from further actions pending the determination of the matter before the court.
Findings indicate that while all parties—except the concessionaire, Pluck Global Company Limited—were duly served within two days of the order, significant challenges were encountered in effecting service on the company, raising troubling questions about its corporate traceability and regulatory vetting.
A review of the company’s records filed with the Corporate Affairs Commission (CAC) revealed addresses that could not be verified as functional business locations. Notably, documentation submitted to Federal Government College (FGC), Kano, dated June 20, 2024, listed two addresses: 8B, Lalupon Street, off Keffi Street, off Awolowo Road, Ikoyi, Lagos, as its head office, and 3 Bargery Road, Bompai, Kano, as its branch office.
However, a physical visit to the Ikoyi address revealed that the entire property is occupied by a company identified as Golden Alchemy, whose staff категорically denied any knowledge of, or shared occupancy with, Pluck Global Company Limited.
Efforts to trace the Kano address yielded even more unsettling findings. The location—a locked duplex—showed no visible signs of commercial activity. Neighbours, while reluctant to speak on record, alluded to irregular movements at odd hours, casting further doubt on the legitimacy of the premises as a corporate office.
In a twist, after multiple attempts to establish contact, an individual purportedly representing the company surfaced in Kano and agreed to receive and acknowledge the court order on April 11, 2026, at approximately 6:00 pm. Curiously, the Ikoyi address—already discredited—was again listed as the company’s official address in the acknowledgment.
These developments raise critical questions regarding due diligence and Know Your Customer (KYC) protocols on the part of the Federal Ministry of Education. They also cast a spotlight on the Infrastructure Concession Regulatory Commission (ICRC), should a concession agreement indeed have been executed with the company. Stakeholders say it would be instructive to review the addresses contained in all official correspondences and contractual documents linked to the transaction.
Meanwhile, a visit to the premises of Federal Government College, Kano, revealed ongoing construction activity, with workers observed excavating foundations. When approached, the workers declined to disclose the authority under which they were operating—despite the subsistence of a court order restraining further action.
Notably, a previously installed project billboard bearing the insignia of the school authorities and the Federal Ministry of Education had been removed. Sources within the institution suggest that the directive for its removal may have emanated from the Ministry following receipt of the court order.
The unfolding situation presents a complex mix of legal, regulatory, and accountability issues—raising the spectre of possible non-compliance with judicial directives, as well as deeper concerns about transparency in public-private concession arrangements.
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