Dangote Petroleum Refinery & Petrochemicals has announced plans to refund customers who bought Premium Motor Spirit at higher prices than the new rates from its key partners — AP (Ardova Plc), Heyden, and MRS — across Nigeria.
The move comes after the refinery reduced its gantry price from N890 per litre to N825 per litre. Dangote said the price cut aims to ensure Nigerians benefit directly and supports President Bola Tinubu’s Renewed Hope Agenda, which seeks to grow the economy.
In a statement released over the weekend, the refinery confirmed it will refund N65 per litre to marketers who purchased over 200,000 metric tonnes of PMS at the old rate of N890 per litre, amounting to a N16 billion loss absorbed by the company.
“The step, effective February 27, 2025, guarantees that none of our valued business partners will experience a loss due to the price change. More importantly, it ensures that the new, lower rate takes immediate effect nationwide for the benefit of the Nigerian people,” the statement said.
Dangote Refinery urged all marketers, not just its major partners, to pass on the reduced prices to customers. The refinery condemned any attempt to exploit the situation, saying, “It is unpatriotic and detrimental to the welfare of Nigerians for any party to purchase at a rate of N825 then sell to consumers at N945 or more per litre. This constitutes excessive profiteering, further burdening Nigerians for personal gain.”
To ensure transparency, Dangote encouraged customers who buy fuel above the approved rates from AP, Heyden, or MRS to report to the refinery with their receipts for a full refund of the extra cost.
The approved prices 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 at N825 per litre, Dangote stated that no Nigerian should pay more than N900 per litre, regardless of their location or the petrol station.
The refinery also emphasized its commitment to producing high-quality, eco-friendly fuel that improves vehicle performance and supports public health.
“Our commitment aligns with the objectives of President Bola Tinubu’s Renewed Hope Agenda, which champions self-sufficiency in critical sectors like energy. We remain dedicated to supporting Nigeria’s economic growth and ensuring every Nigerian has access to affordable, high-quality energy solutions,” the refinery said.
Dangote Refinery concluded by stating, “This initiative is one of many ways Dangote Petroleum Refinery & Petrochemicals continues to contribute to a prosperous and sustainable future for our country. In this journey toward energy security, we stand united with the Nigerian people, always striving to provide lasting solutions and a more prosperous future for all.”
