Dangote Refinery to Absorb ₦16bn PMS Loss, Refund ₦65 per Litre to Marketers

Dangote Petroleum Refinery & Petrochemicals has announced it will absorb a ₦16 billion loss by refunding ₦65 per litre to fuel marketers, ensuring Nigerians benefit from cheaper petrol prices.

In a statement released over the weekend, the refinery confirmed it would reimburse customers purchasing Premium Motor Spirit (PMS) above the advertised price from any of its major partners – AP (Ardova Plc), Heyden, or MRS – across Nigeria.

This decision follows the refinery’s recent reduction of its gantry price from ₦890 per litre to ₦825 per litre. The move is part of the refinery’s efforts to ensure Nigerians benefit directly from the price reduction, in alignment with President Bola Tinubu’s Renewed Hope Agenda, which seeks to boost the country’s economy.

According to the refinery, the ₦65 per litre refund applies to over 200,000 metric tonnes of PMS purchased by marketers at the previous rate of ₦890 per litre, prior to the new price of ₦825 per litre. This initiative, which took effect on February 27, 2025, ensures that none of Dangote’s business partners will incur losses due to the price change, while making the reduced price immediately available nationwide.

“We are committed to ensuring that the new, lower price benefits all Nigerians,” the refinery said in its statement. It emphasized that this refund initiative is not limited to MRS Holdings, Ardova Plc (AP), and Heyden, but applies to all marketers sourcing PMS from the refinery. The company urged other marketers to pass on the benefits of the price reduction to consumers at the retail level, advocating for a collective effort in providing affordable, high-quality fuel.

Dangote Refinery also condemned any exploitation of the new pricing. “It is unpatriotic and harmful to the welfare of Nigerians for any party to purchase fuel at ₦825 per litre and sell it for ₦945 or more. Such excessive profiteering burdens Nigerians for personal gain,” the statement added.

In an effort to ensure transparency, Dangote Refinery urged consumers to report any instances where they are charged above the advertised rate at any of its key partners—AP, Heyden, or MRS. Customers with receipts of overcharged purchases are encouraged to seek a full refund.

The new approved rates per litre are as follows: MRS will sell for ₦860 in Lagos, ₦870 in the South-West, ₦880 in the North, and ₦890 in the South-South and South-East; while Heyden and AP will charge ₦865 in Lagos, ₦875 in the South-West, ₦885 in the North, and ₦895 in the South-South and South-East. With the revised gantry price of ₦825 per litre, Dangote expects no Nigerian will pay more than ₦900 per litre, regardless of location or petrol station.

The refinery reaffirmed its commitment to providing high-quality, eco-friendly fuel that supports vehicle performance and public health. Dangote Refinery’s efforts align with President Bola Tinubu’s Renewed Hope Agenda, which promotes energy self-sufficiency as a critical pillar for economic development.

“This initiative is just one of the many ways Dangote Petroleum Refinery & Petrochemicals continues to contribute to the sustainable and prosperous future of Nigeria. We stand united with the Nigerian people in our pursuit of energy security, and we remain committed to providing lasting solutions for a brighter future for all,” the refinery concluded.