Dangote Refinery Cuts Petrol Prices, Offers Refunds to Customers Charged Above New Rates, Absorbs N16bn Loss
Dangote Petroleum Refinery has announced a refund plan for customers who purchased Premium Motor Spirit (PMS), also known as petrol, at rates higher than its new advertised prices.
This move follows the refinery’s recent price reduction from N890 to N825 per litre at its gantry.
N65 Per Litre Refund for Overpriced Petrol
In a statement released over the weekend, Dangote confirmed it would refund N65 per litre to marketers who bought over 200,000 metric tonnes of petrol before the price adjustment on February 27, 2025.
“The step ensures that none of our valued business partners will experience a loss due to the price change. More importantly, it guarantees that the new, lower rate takes immediate effect nationwide,”
the company stated.
Dangote Warns Against Price Manipulation
Despite the price cut, some marketers have been accused of selling petrol at inflated rates. Dangote condemned this act, calling it “unpatriotic and detrimental to Nigerians.”
“It is unacceptable for any party to purchase petrol at N825 per litre and then sell at N945 or more. This is excessive profiteering,”
the refinery warned.
Approved Petrol Prices Nationwide
To curb price inflation, Dangote has set maximum petrol prices for its key distributors:
- MRS: N860 (Lagos), N870 (South-West), N880 (North), N890 (South-South & South-East).
- Heyden & AP (Ardova Plc): N865 (Lagos), N875 (South-West), N885 (North), N895 (South-South & South-East).
The company assured that no Nigerian should pay more than N900 per litre, regardless of location. Customers who are overcharged at any Dangote partner station can report with their receipts for a full refund.
Commitment to Economic Growth & Energy Security
Dangote confirmed it has absorbed a N16 billion loss to implement these refunds, aligning with President Bola Tinubu’s Renewed Hope Agenda to stimulate economic growth.
The refinery reiterated its commitment to delivering high-quality, eco-friendly fuel, enhancing vehicle performance, and supporting public health while strengthening Nigeria’s energy security.
“This initiative is one of many ways Dangote Petroleum Refinery & Petrochemicals continues to contribute to a prosperous and sustainable future for our country,”
the company stated.
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