The Dangote Petroleum Refinery has announced a refund for customers who bought Premium Motor Spirit (PMS) at prices higher than the newly reduced rate from its official partners—Ardova Plc, Heyden, and MRS.
This refund follows the refinery’s decision to cut its gantry price from N890 per litre to N825 per litre. The move aligns with the federal government’s Renewed Hope Agenda, which aims to ease economic pressures on Nigerians.
According to Dangote Refinery, the refund applies to the over 200,000 metric tonnes of PMS that marketers purchased at the previous price of N890 per litre before the price adjustment.
To ensure that no business partner suffers a loss from this price reduction, the refinery is absorbing a N16 billion loss by refunding N65 per litre to marketers. This measure, effective from February 27, 2025, is designed to ensure that the lower price reaches consumers immediately nationwide.
Dangote Refinery also urged marketers outside its official partners to pass on the benefits of the new pricing to consumers, warning against exploitative pricing.
“It is unpatriotic and unfair to Nigerians for any marketer to buy PMS at N825 per litre and resell it at N945 or more. Such excessive profiteering only increases the financial burden on consumers,” the company stated.
To ensure compliance, consumers who purchase fuel at higher prices from any of Dangote Refinery’s partners—Ardova Plc (AP), Heyden, or MRS—are encouraged to report the overcharge with their receipts to Dangote Refinery for a full refund of the excess amount paid.
The refinery also provided a breakdown of its official pricing across regions:
- 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 at N825 per litre, Dangote Refinery expects that no Nigerian should be paying more than N900 per litre for petrol, regardless of their location.
The company reiterated its commitment to providing high-quality and environmentally friendly fuel, emphasizing that this aligns with President Bola Tinubu’s agenda for energy self-sufficiency. The refinery remains focused on ensuring that Nigerians have access to affordable and efficient energy solutions.
“This initiative is just one of the many ways we are contributing to Nigeria’s economic growth and securing a sustainable future,” Dangote Refinery stated.
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