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Dangote Petroleum Refinery & Petrochemicals has pledged to shoulder a N16 billion hit, channeling refunds of N65 per litre to marketers to ensure Nigerians reap the rewards of more affordable fuel.
In a detailed communiqué released on Saturday, March 1, 2025, the refinery announced it would compensate customers who snapped up Premium Motor Spirit (PMS) at inflated rates above the listed prices from its major collaborators—Ardova Plc (AP), Heyden, or MRS—spanning the nation’s fuel stations.
This initiative builds on the refinery’s recent decision to trim its ex-depot price from N890 to N825 per litre, a shift that’s rippling through the market with tangible impact.
The refinery framed this effort as a cornerstone of its mission to prioritize Nigerian consumers in the price drop’s dividends, aligning seamlessly with President Bola Tinubu’s Renewed Hope Agenda, which seeks to ignite economic vitality through strategic interventions.
Dangote affirmed it would disburse N65 per litre back to marketers on the more than 200,000 metric tonnes of PMS they secured at the prior rate of N890 per litre, a financial recalibration triggered by the adoption of the new N825 per litre benchmark.
Read also: Dangote’s Fresh Price Drops Stir Anxiety Among Importers
“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 said.
The refinery emphasised that this initiative extends beyond MRS Holdings, Ardova Plc (AP), and Heyden.
It urged other marketers sourcing stock from it to pass on the benefits of the new pricing to consumers at the retail level, encouraging a collective commitment to affordable, quality products.
Dangote also condemned any exploitation of the new pricing structure. “It is both unpatriotic and detrimental to the welfare of Nigerians for any party to purchase at a rate of N825 per litre and then sell to consumers at N945 or more per litre. This constitutes excessive profiteering, further burdening Nigerians for personal gain,” the statement added.
“Dangote Refinery in its effort to ensure good quality and affordable fuel for Nigerians, is working with its partners to make this price accessible. Consumers who purchase fuel above the advertised rate at any of its key partners – AP (Ardova Plc), Heyden, or MRS – anywhere in Nigeria, are encouraged to report to Dangote Refinery with their receipts for a full refund of the excess amount.
Dangote Petroleum Refinery & Petrochemicals has outlined the sanctioned price benchmarks for Premium Motor Spirit (PMS) across Nigeria, tailored by region and partner: MRS stations will dispense fuel at N860 per litre in Lagos, N870 across the South-West, N880 in the North, and N890 throughout the South-South and South-East; meanwhile, Heyden and Ardova Plc (AP) outlets are set at N865 in Lagos, N875 in the South-West, N885 in the North, and N895 in the South-South and South-East—a structured grid designed to stabilize costs and guide refunds.
