The Dangote Petroleum Refinery has announced plans to refund customers who purchased Premium Motor Spirit (PMS) at prices higher than the advertised rates from any of its key partners – Ardova Plc, Heyden, or MRS – across Nigeria.
This decision follows the refinery’s recent reduction of its gantry price from N890 per litre to N825 per litre. In a statement issued on Sunday, the refinery explained that the initiative is part of its ongoing commitment to ensuring that Nigerians benefit from the price reduction, in line with President Bola Tinubu’s Renewed Hope Agenda, which aims to stimulate the economy.
The refinery confirmed it would refund N65 per litre for over 200,000 metric tonnes of PMS purchased by marketers at the old price of N890 per litre before the new N825 rate was introduced. The statement also highlighted that the refinery absorbed a N16 billion loss by refunding N65 per litre to marketers to ensure Nigerians could access cheaper fuel.
“Effective from February 27, 2025, this move guarantees that none of our valued business partners will incur a loss due to the price change. Most importantly, it ensures that the new, lower rate is immediately reflected nationwide for the benefit of the Nigerian people,” the statement read.
Dangote Refinery emphasized that this initiative goes beyond MRS Holdings, Ardova Plc, and Heyden, urging all other marketers sourcing from the refinery to pass on the benefits of the new pricing to consumers at the retail level. The company is encouraging a collective commitment to providing affordable, high-quality fuel.
The refinery also condemned any exploitation of the new pricing structure. “It is unpatriotic and harmful to the welfare of Nigerians for any party to purchase at N825 per litre and then sell to consumers at N945 or more per litre. Such excessive profiteering further burdens Nigerians for personal gain,” the statement said.
Dangote Refinery, in its effort to ensure access to affordable fuel, is working with its partners to make the new price accessible. Consumers who purchase fuel at a rate higher than the advertised price from any of its key partners – Ardova Plc, Heyden, or MRS – are encouraged to report to Dangote Refinery with their receipts to receive a full refund of the excess amount.
The company reiterated the approved rates per litre for each key partner: 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 set at N825 per litre, Dangote Refinery expects that no Nigerian will pay more than N900 per litre for PMS, regardless of location or petrol station. The refinery also emphasized its commitment to providing high-quality, eco-friendly fuel that enhances vehicle performance and supports public health.
“Our commitment aligns with President Bola Tinubu’s Renewed Hope Agenda, which focuses on self-sufficiency in critical sectors like energy. We remain dedicated to supporting Nigeria’s economic growth and ensuring that every Nigerian has access to affordable, high-quality energy solutions,” the statement concluded.
The refinery’s initiative is part of its broader strategy to contribute to a prosperous and sustainable future for Nigeria.
