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Dangote Petroleum Refinery & Petrochemicals has declared its intention to reimburse customers who acquire Premium Motor Spirit (PMS) at prices exceeding the advertised rates from its key partners – AP (Ardova Plc), Heyden, or MRS – throughout Nigeria.
This decision follows the refinery's recent price decrease from N890 per litre to N825 per litre.
The refinery emphasized that this is part of its continuous efforts to ensure that Nigerians are the primary beneficiaries of the price cut and aligns with President Bola Tinubu’s Renewed Hope Agenda, which aims to boost the economy.
In a statement released over the weekend, the refinery confirmed it will refund N65 per litre on over 200,000 metric tonnes of PMS bought by marketers at the former price of N890 per litre, prior to the adjustment to N825 per litre.
Furthermore, Dangote refinery has incurred a loss of N16 billion by refunding N65 per litre to marketers to ensure Nigerians enjoy cheaper fuel. “The measure, effective February 27, 2025, guarantees that none of our valued business partners will suffer a loss due to the price adjustment.
Most importantly, it ensures that the new, lower price is implemented immediately across the country for the benefit of the Nigerian people,” the statement noted.
The refinery highlighted that this initiative goes beyond MRS Holdings, Ardova Plc (AP), and Heyden.
It urged other marketers sourcing fuel from them to convey the benefits of the new pricing to consumers at the retail level, fostering a united commitment to affordable, quality products.
Dangote also denounced any exploitation of the new pricing system. “It is both unpatriotic and harmful to the wellbeing of Nigerians for anyone to purchase at a rate of N825 per litre and then sell to consumers at N945 or higher. This amounts to excessive profiteering, placing an additional burden on Nigerians for personal profit,” the statement added.
“Dangote Refinery, in its mission to ensure quality and affordable fuel for Nigerians, is collaborating with its partners to make this price accessible. Consumers who purchase fuel above the advertised price from any of its key partners – AP (Ardova Plc), Heyden, or MRS – anywhere in Nigeria, are encouraged to report to Dangote Refinery with their receipts for a complete refund of the excess.
The approved rates per litre are as follows: MRS: N860 in Lagos, N870 in the South-West, N880 in the North, and N890 in the South-South and South-East; Heyden and AP: N865 in Lagos, N875 in the South-West, N885 in the North, and N895 in the South-South and South-East. With the new gantry price fixed at N825 per litre, Dangote Refinery anticipates that no Nigerian will pay over N900 per litre for PMS, irrespective of location or petrol station.
The refinery also reiterated its dedication to supplying high-quality, eco-friendly fuel that enhances vehicle performance and promotes public health.
