By Dangote Petroleum Refinery & Petrochemicals has announced it will refund customers who bought Premium Motor Spirit (PMS) from its key partners — AP (Ardova Plc), Heyden, and MRS — at prices higher than its new advertised rates.
This comes after the refinery slashed its gantry price from N890 per litre to N825 per litre, a move aimed at ensuring Nigerians directly benefit from the reduction in fuel prices. The price cut aligns with President Bola Tinubu’s Renewed Hope Agenda, which seeks to ease economic pressure on citizens.
In a statement issued over the weekend, Dangote Refinery confirmed it will refund N65 per litre on over 200,000 metric tonnes of fuel sold at the old price of N890 per litre before the new rate took effect on February 27, 2025.
The refund amounts to a staggering N16 billion loss absorbed by the refinery, demonstrating its commitment to passing savings directly to Nigerian consumers, while also protecting its business partners from losses tied to the price adjustment.
The refinery emphasized that the move ensures immediate nationwide implementation of the new price and prevents any disruptions in supply or unfair pricing at the pump.
With rising fuel costs already squeezing household budgets, Dangote’s decision to refund excess charges is being seen as a rare customer-friendly gesture in Nigeria’s volatile downstream sector.
