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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—AP (Ardova Plc), Heyden, and MRS—nationwide.
This decision follows a recent reduction in the refinery’s gantry price from N890 per litre to N825 per litre, aligning with its commitment to ensuring Nigerians benefit directly from the price adjustment. The move also supports President Bola Tinubu’s Renewed Hope Agenda, aimed at stimulating economic growth.
In a statement released over the weekend, the refinery confirmed that it will refund N65 per litre to marketers for over 200,000 metric tonnes of PMS purchased at the previous price of N890 per litre, incurring a N16bn loss to make fuel more affordable for Nigerians.
“Effective February 27, 2025, this measure ensures that none of our valued business partners suffer losses due to the price adjustment. More importantly, it guarantees that the new, lower rate reaches Nigerians without delay,” the refinery stated.
While this initiative initially covers MRS, Ardova Plc (AP), and Heyden, the refinery urged all marketers sourcing stock from it to pass on the benefits to consumers. Dangote Refinery also condemned any price exploitation, warning against excessive profiteering that burdens Nigerians unnecessarily.
“It is unpatriotic and unfair for any marketer to purchase PMS at N825 per litre and sell to consumers at N945 or more. This practice goes against our mission to provide affordable fuel,” the statement emphasized.
To reinforce price transparency, Dangote Refinery is actively monitoring sales and encourages consumers who are overcharged at AP, Heyden, or MRS outlets to report with receipts for a full refund of any excess amount paid.
Approved PMS Prices Per Litre:
- 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 should pay more than N900 per litre, regardless of location or petrol station.
Reaffirming its commitment to quality, affordability, and environmental sustainability, the refinery emphasized that its high-quality fuel enhances vehicle performance while promoting public health.
“Our efforts align with President Bola Tinubu’s Renewed Hope Agenda, focusing on energy self-sufficiency. We remain dedicated to Nigeria’s economic progress and ensuring affordable, high-quality energy for all,” the statement added.
Concluding, Dangote Refinery reiterated its long-term vision:
“We are committed to Nigeria’s energy security and economic sustainability. This initiative is one of many steps we are taking to create lasting solutions and a more prosperous future for all Nigerians.”