Customers who bought Premium Motor Spirit (petrol) from any of the Dangote Petroleum Refinery’s major partners, Ardova Plc, Heyden, or MRS, in Nigeria at prices greater than those listed would receive a refund, the refinery declared.
The refinery has lowered the price of its product from N890 per litre to N825 per litre, according to the company.
The refinery said in a statement on Sunday that this is in keeping with President Bola Tinubu’s Renewed Hope Agenda, which seeks to boost the economy, and that it is part of its continuous efforts to guarantee that Nigerians are the main recipients of the price decrease.
With regard to the more than 200,000 metric tonnes of PMS that marketers had bought at the previous gantry price of N890 per litre prior to the revised rate of N825 per litre, the refinery indicated that it would reimburse N65 per litre.
To provide Nigerians with cheaper fuel, the refinery also refunded N65 per litre to marketers, absorbing a N16 billion loss, according to the statement.
“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.
The refinery emphasised that this approach is not limited to MRS Holdings, Ardova Plc, and Heyden. It encouraged other marketers that source goods from it to share the advantages of the new pricing with consumers at the retail level, fostering a shared dedication to high-quality, reasonably priced products.
Dangote also criticised any exploitation of the new pricing system.
“It is both unpatriotic and detrimental to the welfare of Nigerians for any party to purchase at a rate of N825 per litre and then sell to consumers at N945 or more per litre. This constitutes excessive profiteering, further burdening Nigerians for personal gain.
“Dangote refinery, in its effort to ensure good quality and affordable fuel for Nigerians, is working with its partners to make this price accessible. Consumers who purchase fuel above the advertised rate at any of its key partners – Ardova Plc (AP), Heyden, or MRS – anywhere in Nigeria are encouraged to report to Dangote refinery with their receipts for a full refund of the excess amount,” the statement added.
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The company reiterated, “The approved rates 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 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 underlined its commitment to providing high-quality, eco-friendly fuel that benefits 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.”
According to the Dangote refinery, the program is only one of the several ways it keeps helping to ensure our nation has a prosperous and long-term future.
