The Dangote Petroleum Refinery has announced plans to refund customers who purchased Premium Motor Spirit (PMS) at rates higher than the newly reduced prices from its key distribution partners—Ardova Plc, Heyden, and MRS—across Nigeria.
Naija News gathered that this move follows the refinery’s decision to cut its gantry price from ₦890 per litre to ₦825 per litre in a bid to ensure Nigerians benefit from the price reduction and align with President Bola Tinubu’s Renewed Hope Agenda, aimed at stimulating the economy.
Refund Plan and ₦16bn Loss Absorption
The refinery confirmed that it would refund ₦65 per litre on over 200,000 metric tonnes of PMS sold to marketers at the old price before the adjustment. This initiative comes at a ₦16bn loss, which Dangote Refinery has decided to absorb to ensure that Nigerians get access to cheaper fuel.
“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 company said in a statement.
Warning Against Exploitation and Overpricing
The refinery urged all marketers sourcing fuel from it to pass on the price reduction to consumers, warning against excessive profiteering.
“It is both unpatriotic and detrimental to the welfare of Nigerians for any party to purchase at a rate of ₦825 per litre and then sell to consumers at ₦945 or more per litre. This constitutes excessive profiteering, further burdening Nigerians for personal gain,” the statement read.
Refund Process for Consumers
Consumers who buy fuel at inflated prices from Ardova Plc, Heyden, or MRS stations are encouraged to report to Dangote Refinery with their receipts for a full refund of the excess amount paid.
New Approved PMS Prices by Location
The refinery also outlined the approved per-litre pump prices based on location:
MRS: ₦860 (Lagos), ₦870 (South-West), ₦880 (North), ₦890 (South-South/South-East)
Heyden & Ardova Plc (AP): ₦865 (Lagos), ₦875 (South-West), ₦885 (North), ₦895 (South-South/South-East)
With the new gantry price set at ₦825 per litre, the refinery expects that no Nigerian should pay more than ₦900 per litre for PMS, regardless of location.
Commitment to Affordable and Quality Energy
Dangote Refinery reaffirmed its commitment to providing high-quality, eco-friendly fuel that enhances vehicle performance while supporting 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.”
The refinery concluded that the initiative is part of its broader efforts to contribute to a more prosperous and sustainable Nigeria, emphasizing that it remains steadfast in providing lasting energy solutions for the nation.
