LAGOS (CHATNEWSTV) — Dangote Petroleum Refinery & Petrochemicals has announced that it will refund customers who purchase Premium Motor Spirit (PMS), commonly known as petrol, at rates higher than its advertised prices from key partners – Ardova Plc (AP), Heyden, and MRS – across Nigeria.
The move follows the refinery’s decision to cut its gantry price from N890 per litre to N825 per litre, in what it describes as an effort to pass cost savings directly to Nigerians in line with President Bola Tinubu’s Renewed Hope Agenda.
“This step, effective February 27, 2025, guarantees that none of our valued business partners will experience a loss due to the price change,” Dangote Refinery said in a weekend statement. “More importantly, it ensures that the new, lower rate takes immediate effect nationwide for the benefit of the Nigerian people.”
Refund, Pricing, and Market Commitment
Dangote Refinery confirmed it will refund N65 per litre on over 200,000 metric tonnes of petrol already purchased at the old price of N890 per litre. This refund amounts to a N16 billion loss absorbed by the refinery, intended to ensure fuel price relief reaches consumers.
The company also emphasized that this initiative extends beyond its three key distributors. “We urge all marketers sourcing fuel from Dangote Refinery to pass on the benefits of the new pricing to consumers at the retail level,” the statement said.
Dangote warned against price exploitation, calling it “unpatriotic and detrimental to the welfare of Nigerians” for retailers to purchase at N825 per litre but sell above N945 per litre.
Price Breakdown and Refund Process
Approved petrol rates per litre from key partners 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)
Consumers charged above these rates at AP, Heyden, or MRS stations are encouraged to report to Dangote Refinery with receipts for a full refund of the excess amount.
With the new gantry price of N825 per litre, Dangote Refinery expects no Nigerian to pay more than N900 per litre, regardless of location.
Commitment to Energy Security
“Our commitment aligns with the objectives of President Bola Tinubu’s Renewed Hope Agenda, which champions self-sufficiency in critical sectors like energy,” the refinery said. “We remain dedicated to supporting Nigeria’s economic growth and ensuring every Nigerian has access to affordable, high-quality energy solutions.”
The company reaffirmed its focus on delivering high-quality, eco-friendly fuel, enhancing vehicle performance, and promoting public health.
“This initiative is one of many ways Dangote Petroleum Refinery & Petrochemicals continues to contribute to a prosperous and sustainable future for our country. In this journey toward energy security, we stand united with the Nigerian people, always striving to provide lasting solutions and a more prosperous future for all,” the statement concluded.
