The Dangote Petroleum Refinery has announced a refund initiative for customers who purchased Premium Motor Spirit (PMS) at rates higher than its advertised prices from its key distributors—Ardova Plc, Heyden, or MRS—across Nigeria.
This decision follows the refinery’s recent reduction of its gantry price from N890 per litre to N825 per litre, ensuring that Nigerians fully benefit from the price cut in alignment with President Bola Tinubu’s Renewed Hope Agenda to stimulate the economy.
In a statement on Sunday, the refinery confirmed that it would refund N65 per litre on over 200,000 metric tonnes of PMS bought at the old price of N890 per litre before the reduction. The company also absorbed a N16 billion loss to ensure that the new pricing immediately reaches consumers nationwide.
“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 read.
Dangote urged all marketers purchasing stock from the refinery to pass on the benefits to consumers and condemned excessive profiteering, warning against selling petrol at N945 per litre or higher despite the reduced price.
“It is both unpatriotic and detrimental to the welfare of Nigerians for any party to purchase at N825 per litre and then sell to consumers at N945 or more per litre,” the company stated.
Customers who buy petrol above the approved rates from Ardova Plc, Heyden, or MRS can report to Dangote Refinery with their receipts for a full refund of the excess amount paid.
The approved rates per litre at various locations are:
- MRS: N860 (Lagos), N870 (South-West), N880 (North), N890 (South-South/South-East).
- Heyden & Ardova Plc (AP): N865 (Lagos), N875 (South-West), N885 (North), N895 (South-South/South-East).
With the new gantry price set at N825 per litre, the refinery expects that no Nigerian should pay more than N900 per litre, regardless of location or fuel station.
Reaffirming its commitment to high-quality, eco-friendly fuel, Dangote Refinery stated that the initiative aligns with Tinubu’s vision for energy self-sufficiency and economic stability.
“This is just one of the many ways we are contributing to a prosperous and sustainable future for Nigeria,” the statement concluded.