Dangote Petroleum Refinery & Petrochemicals has announced plans to absorb a N16 billion loss by refunding N65 per litre to marketers, ensuring that Nigerians benefit from lower fuel prices. The refinery confirmed that marketers who purchased Premium Motor Spirit (PMS) at the old gantry price of N890 per litre before the recent reduction to N825 per litre will receive refunds.
The company stated that this initiative, effective February 27, 2025, guarantees that none of its key partners—AP (Ardova Plc), Heyden, and MRS—suffer losses due to the price change. More importantly, it ensures that the new lower rates take immediate effect nationwide, aligning with President Bola Tinubu’s Renewed Hope Agenda to boost economic stability. Dangote Refinery urged all fuel marketers sourcing from it to pass on the price reduction to consumers. It also warned against excessive profiteering, calling it unpatriotic for marketers to buy at N825 per litre and sell at N945 or more, which would place an unnecessary burden on Nigerians.
The refinery has set approved rates for PMS across different regions, ensuring that no Nigerian pays more than N900 per litre regardless of location. Consumers who purchase fuel above the advertised rates from AP, Heyden, or MRS can report to Dangote Refinery with their receipts for a full refund of the excess amount. The company reaffirmed its dedication to providing high-quality, eco-friendly fuel that enhances vehicle performance and supports public health. It emphasized its commitment to Nigeria’s energy self-sufficiency, in line with the government’s economic agenda.
Describing the initiative as part of its broader commitment to national progress, the refinery assured Nigerians that it remains focused on ensuring affordable fuel prices and long-term energy security. It reiterated that this move is just one of many ways Dangote Petroleum Refinery & Petrochemicals is contributing to a sustainable and prosperous future for the country.
