•Absorbs N16bn Loss to Ensure Nigerians Benefit from Cheaper Fuel
In a significant move to shield consumers from inflated fuel prices, Dangote Petroleum Refinery & Petrochemicals has announced a refund initiative for customers who purchase Premium Motor Spirit (PMS) above the advertised rates from its key partners — Ardova Plc (AP), Heyden, and MRS—across Nigeria.
This initiative follows Dangote Refinery’s recent reduction of its gantry price from N890 per litre to N825 per litre, reinforcing its commitment to making high-quality fuel affordable for Nigerians.
The company emphasized that this adjustment aligns with President Bola Tinubu’s Renewed Hope Agenda, which prioritizes economic growth, energy self-sufficiency, and consumer protection.
Dangote to Refund N65/Litre to Marketers and Consumers
In a statement issued over the weekend, Dangote Refinery confirmed it would refund N65 per litre on over 200,000 metric tonnes of PMS purchased at the old price of N890 per litre before the new rate took effect.
This move represents an N16 billion loss absorbed by the refinery to ensure that consumers benefit from the new, lower pricing.
“This step, effective February 27, 2025, ensures that none of our valued business partners suffer losses due to the price change.
“More importantly, it guarantees that the new, lower rate is implemented nationwide for the benefit of Nigerians,” the statement read.
Warning Against Price Exploitation
Dangote Refinery also cautioned against excessive profiteering, condemning marketers who buy at N825 per litre but sell to consumers at inflated prices of N945 or more. The company urged all marketers sourcing fuel from the refinery to pass on the benefits of the new pricing to consumers at the retail level.
“It is both unpatriotic and detrimental to the welfare of Nigerians for any party to engage in price exploitation at the expense of citizens,” the statement added.
How to Claim a Refund
To protect consumers from overpricing and unfair practices, Dangote Refinery is encouraging customers who purchase fuel above the approved rates at AP, Heyden, or MRS stations to report with their receipts for a full refund of the excess amount.
The approved fuel prices per litre at key partner stations are as follows:
MRS: N860 (Lagos), N870 (South-West), N880 (North), N890 (South-South & South-East)
Heyden & AP: N865 (Lagos), N875 (South-West), N885 (North), N895 (South-South & South-East)
With the new N825 per litre gantry price, Dangote Refinery expects that no Nigerian will pay more than N900 per litre for PMS, regardless of location or petrol station.
Commitment to Affordable, High-Quality Fuel
Dangote Refinery reaffirmed its dedication to providing eco-friendly, high-quality fuel, ensuring better vehicle performance while also supporting public health and economic growth.
“This initiative reflects our alignment with President Tinubu’s Renewed Hope Agenda, which champions self-sufficiency in key sectors like energy. We remain committed to supporting Nigeria’s economic progress and ensuring that every Nigerian has access to affordable, high-quality fuel,” the statement concluded.
Dangote’s Ongoing Commitment to Energy Security
As Africa’s largest refinery, Dangote Petroleum Refinery & Petrochemicals continues to lead efforts in enhancing energy security, stabilizing fuel prices, and ensuring Nigerians benefit from fair pricing.
The company’s latest move reinforces its role as a major player in Nigeria’s energy sector, dedicated to lasting solutions and a more prosperous future for all.
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