- Dangote Refinery announced that marketers who purchased petrol at the old price of N890 per litre will receive a N65 per litre refund
- The price reduction aims to lower transportation costs and ease financial burdens on households and businesses
- The refinery warns against excessive profiteering, urging marketers to maintain fair pricing for Nigerians
Dangote Petroleum Refinery & Petrochemicals has announced a N65 per litre refund to marketers who previously purchased Premium Motor Spirit (PMS), commonly known as petrol, at higher rates before the recent price reduction.
The initiative aims to ensure that Nigerians benefit from more affordable fuel. The refinery recently reduced its ex-depot price from N890 per litre to N825 per litre.
In response, Dangote Refinery has committed to refunding N65 per litre to its key distribution partners, Ardova Plc (AP), Heyden, and MRS, who bought petrol at the old rate before the price adjustment.
The refund applies to over 200,000 metric tonnes of PMS purchased before the new pricing took effect on February 27, 2025.
With the new gantry price set at N825 per litre, Dangote Refinery expects that no Nigerian should pay more than N900 per litre, regardless of their location or the petrol station they visit.
A statement from the refinery emphasised that it is both unpatriotic and unfair for any marketer to purchase fuel at N825 per litre and resell at N945 or higher, warning against excessive profiteering that would further burden Nigerians.
To protect consumers, the refinery urges buyers who pay above the advertised rates at its partner stations, AP, Heyden, or MRS, to report with their receipts for a full refund of any excess amount paid.
Approved petrol prices across Nigeria
The statement outlined the approved pump prices at its partner stations across different regions:
Lagos:
- MRS: N860 per litre
- AP & Heyden: N865 per litre
South-West:
- MRS: N870 per litre
- AP & Heyden: N875 per litre
North:
- MRS: N880 per litre
- AP & Heyden: N885 per litre
South-South & South-East:
- MRS: N890 per litre
- AP & Heyden: N895 per litre
Dangote Refinery described the latest price cut as a strategic move to provide economic relief ahead of the Ramadan season. The reduction is expected to lower transportation costs and ease the financial burden on households and businesses.
The company reaffirmed its commitment to supporting President Bola Tinubu’s Renewed Hope Agenda, which prioritises self-sufficiency in key sectors, including energy.
The refinery also pledged to continue providing high-quality, eco-friendly fuel that enhances vehicle performance and public health.
As Dangote Refinery continues to adjust its pricing to support Nigerians, it reiterated its dedication to ensuring affordable, high-quality energy solutions for all.
The company urged the public to report any excessive pricing to maintain fairness and transparency in the fuel distribution system.
This recent price reduction marks the second cut in February 2025, following an earlier N60 per litre reduction on February 1.
Africa’s largest refinery, Dangote, exports first PMS to Cameroon
Meanwhile, TheRadar earlier reported that Africa’s largest refinery, Dangote Refinery, shipped its first Premium Motor Spirit (PMS) to Cameroon in partnership with Neptune Oil.
In a statement released on Wednesday, December 11, Dangote expressed that the achievement was made possible by the strategic alliance between the two companies, reinforcing their dedication to boosting Nigeria-Cameroon economic relations and addressing the growing energy demand in the region.