Dangote Refinery in to Refund Customers Overcharged for Fuel, Absorb N16 Billion Loss
Dangote Petroleum Refinery & Petrochemicals has announced a customer refund initiative for those who purchased Premium Motor Spirit (PMS) above the advertised rates from its key partners, MRS, Heyden, and AP (Ardova Plc), across Nigeria. This move comes after the refinery recently reduced its gantry price from N890 to N825 per litre.
The refinery is set to refund N65 per litre on the over 200,000 metric tonnes of PMS purchased by marketers at the previous higher price. This decision will result in Dangote Refinery absorbing a N16 billion loss, demonstrating its commitment to ensuring Nigerians benefit from cheaper fuel. The refund, effective from February 27, 2025, aims to protect business partners from losses due to the price change and ensure immediate nationwide implementation of the lower rate.
“The step…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 refinery stated.
Dangote Refinery is urging all marketers sourcing fuel from them to pass on the benefits of the new pricing to consumers, emphasizing a collective responsibility for affordable, quality products. They strongly condemned any exploitation of the new pricing structure, deeming it “unpatriotic and detrimental” for marketers to sell at excessive prices after purchasing at the reduced rate.
Customers who purchased fuel above the approved rates at MRS, Heyden, or AP are encouraged to report to Dangote Refinery with their receipts for a full refund of the excess amount. The approved rates per litre are:
- MRS: N860 in Lagos, N870 in the South-West, N880 in the North, and N890 in the South-South and South-East.
- Heyden and AP: N865 in Lagos, N875 in the South-West, N885 in the North, and N895 in the South-South and South-East.
With the new gantry price, Dangote Refinery expects that no Nigerian should pay more than N900 per litre for PMS, regardless of location. The refinery reiterated its commitment to providing high-quality, eco-friendly fuel and supporting President Bola Tinubu’s Renewed Hope Agenda, which promotes self-sufficiency in critical sectors like energy.
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“Our commitment aligns with the objectives of President Bola Tinubu’s Renewed Hope Agenda, which champions self-sufficiency in critical sectors like energy. We remain dedicated to supporting Nigeria’s economic growth and ensuring every Nigerian has access to affordable, high-quality energy solutions,” the refinery concluded.
