The Dangote Petrochemicals Refinery has introduced a N10 rebate on the ex-depot price of Premium Motor Spirit (PMS), effectively reducing the cost of petrol for marketers from the official N835 to N825 per litre.
According to The Punch, industry sources disclosed on Monday that while marketers continue to pay the listed N835 per litre at purchase, a N10 refund is issued after loading, effectively lowering the cost.
“The Dangote refinery has started giving a rebate on its products. It’s not an official reduction yet, but paid back after marketers buy products from them,” a source familiar with the development confirmed.
Though informal, the price adjustment allows retailers to sell petrol slightly cheaper—between N830 and N835 per litre—offering them a competitive advantage over importers and private depots, many of whom maintain higher prices.
This comes just weeks after Dangote Refinery implemented two price cuts in April, dropping the gantry price from N880 to N835 per litre—a total reduction of N45.
The recent adjustments are believed to be tied to the resumed enforcement of the Naira-for-Crude policy, which requires local refiners to pay for crude oil in Naira, following a brief suspension.
Efforts to obtain official confirmation from Dangote Group spokesperson Anthony Chiejina were unsuccessful at the time of filing this report.
