absorbs a N16 billion loss by giving traders a return of N65 per litre so that Nigerians can take advantage of inexpensive petrol. insists that Nigerians should have access to reasonably priced, high-quality petroleum products. Customers who buy Premium Motor Spirit (PMS) from any of Dangote Petroleum Refinery & Petrochemicals’ major partners, Heyden, MRS, or AP (Ardova Plc), in Nigeria at prices greater than those listed would receive a refund, the company announced.
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After the refinery recently lowered the price of its gantry from N890 per litre to N825 per litre, this action was taken. According to the refinery, this is in keeping with President Bola Tinubu’s Renewed Hope Agenda, which seeks to boost the economy, and is part of its continuous efforts to guarantee that Nigerians are the main recipients of the price decrease.
The refinery stated in a statement released over the weekend that it will reimburse N65 per litre for the more than 200,000 metric tonnes of PMS that marketers had bought at the previous gantry price of N890 per litre, before the new rate of N825 per litre was implemented. In order for Nigerians to benefit from cheaper fuel, the Dangote refinery also absorbed a N16 billion loss by returning N65 per litre to merchants.
“The action, which takes effect on February 27, 2025, ensures that the price change won’t result in a loss for any of our esteemed business partners. More significantly, it guarantees that the new, reduced rate be implemented immediately across the country for the benefit of Nigerians, according to the statement.
The refinery highlighted that Heyden, Ardova Plc (AP), and MRS Holdings are not the only parties involved in this effort. In order to foster a shared commitment to reasonably priced, high-quality items, it asked other marketers that source stock from it to share the advantages of the new pricing with customers at the retail level. Additionally, Dangote denounced any abuse of the new pricing system.
“Any party that buys at a price of N825 per litre and then sells to customers at N945 or more per litre is not only unpatriotic, but it is also harmful to the welfare of Nigerians.” The statement also said, “This is excessive profiteering, further burdening Nigerians for personal gain.” “Dangote Refinery is collaborating with its partners to make this price accessible in an attempt to guarantee high-quality and reasonably priced fuel for Nigerians.
Customers are urged to provide their receipts to Dangote Refinery for a complete reimbursement of any extra fuel they have purchased at any of its major partners, Heyden, MRS, or AP (Ardova Plc), located anywhere in Nigeria. The following are the authorised rates per litre: Heyden and AP: N865 in Lagos, N875 in the South-West, N885 in the North, and N895 in the South-South and South-East; MRS: N860 in Lagos, N870 in the South-West, N880 in the North, and N890 in the South-South and South-East.
Dangote Refinery anticipates that no Nigerian, regardless of location or fuel station, will pay more than N900 per litre for PMS now that the new gantry pricing is established at N825 per litre. Additionally, the refinery reaffirmed its dedication to offering premium, environmentally sustainable fuel that enhances vehicle performance and promotes public health.
“Our dedication supports self-sufficiency in vital areas like energy, which is in line with President Bola Tinubu’s Renewed Hope Agenda goals. We are still committed to helping Nigeria’s economy flourish and making sure all Nigerians have access to reasonably priced, superior energy options,” the refinery stated.
“This project is just one of many ways Dangote Petroleum Refinery & Petrochemicals continues to contribute to a prosperous and sustainable future for our nation,” the refinery said in closing. We are standing alongside the Nigerian people on this path to energy security, constantly working to offer long-term fixes and a brighter future for everybody.
