“We Are Ready”: Dangote Hits 650,000bpd Full Capacity, Slashes Petrol Price to N774 to “Wipe Out” Importers

LAGOS — The battle for Nigeria’s fuel market has officially shifted in favor of local production.

In a landmark announcement on Wednesday, Dangote Petroleum Refinery confirmed it has finally achieved its full nameplate capacity of 650,000 barrels per day (bpd). To mark the milestone, the refinery immediately declared a price war against fuel importers, slashing the gantry price of Premium Motor Spirit (PMS) to N774 per litre.

Managing Director David Bird, speaking at the Ibeju-Lekki facility, revealed that the refinery’s critical Crude Distillation Unit (CDU) and Motor Spirit (MS) Block are now operating at 100% optimization following successful performance tests this week.

The Price Crash: N774 is the New Benchmark

The refinery has moved swiftly to leverage its new capacity.

• Petrol (PMS): Effective immediately, the ex-depot price drops from N799 to N774 per litre. This N25 cut is calculated to undercut the landing cost of imported petrol, which currently hovers around N793 from Lome, Togo.
• Diesel & Aviation Fuel: The refinery also announced aggressive bulk pricing for industrial users. Diesel (AGO) has dropped to N940 per litre, while Aviation Fuel (Jet A1) is now pegged at N980 per litre for bulk buyers.

“We have reached the point where we can supply 75 million litres of petrol daily,” Bird stated. “There is no longer any economic justification for Nigeria to import a single drop of fuel. We are wiping out the need for foreign exchange in the downstream sector.”

No More “Lifting Bonus”

With the new competitive pricing, Dangote Refinery has also ended its “lifting bonus” incentive scheme for marketers as of February 10, 2026. The message to the Independent Petroleum Marketers Association of Nigeria (IPMAN) is clear: the price is now low enough to guarantee margins without artificial sweeteners.

Global Record

This achievement positions the plant as the largest single-train refinery in the world operating at full capacity. Bird confirmed that the facility is now poised to not only saturate the Nigerian market but to begin dominant exports to West Africa, with discussions already advanced for supply deals with Burundi and Ghana.

Market Reaction

Energy analysts predict that this move will force a further crash in pump prices at retail stations over the next 48 hours. “Importers are now holding toxic stock,” said energy analyst Chinedu Onyeizu. “If they bought at N793 and Dangote is selling at N774, the importation business model effectively died this morning.”