₦airaland Forum

Dangote Petroleum Refinery & Petrochemicals has said it would absorb N16bn loss by refunding N65/litre to marketers so Nigerians will benefit from cheaper fuel.

In a statement issued over the weekend, the refinery said it will refund customers who purchase Premium Motor Spirit (PMS) at rates higher than the advertised prices from any of its key partners – AP (Ardova Plc), Heyden, or MRS – across Nigeria.

This move follows the refinery’s recent reduction of its gantry price from N890 per litre to N825 per litre.

The refinery stated that this is part of its ongoing efforts to ensure that Nigerians are the primary beneficiaries of the price reduction and in line with President Bola Tinubu’s Renewed Hope Agenda, which aims to stimulate the economy.

The refinery confirmed it will refund N65 per litre on the over 200,000 metric tonnes of PMS purchased by marketers at the old gantry price of N890 per litre, before the new rate of N825 per litre.

“The step, effective February 27, 2025, 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 statement said.

The refinery emphasised that this initiative extends beyond MRS Holdings, Ardova Plc (AP), and Heyden.

It urged other marketers sourcing stock from it to pass on the benefits of the new pricing to consumers at the retail level, encouraging a collective commitment to affordable, quality products.

Dangote also condemned any exploitation of the new pricing structure. “It is both unpatriotic and detrimental to the welfare of Nigerians for any party to purchase at a rate of N825 per litre and then sell to consumers at N945 or more per litre. This constitutes excessive profiteering, further burdening Nigerians for personal gain,” the statement added.

“Dangote Refinery in its effort to ensure good quality and affordable fuel for Nigerians, is working with its partners to make this price accessible. Consumers who purchase fuel above the advertised rate at any of its key partners – AP (Ardova Plc), Heyden, or MRS – anywhere in Nigeria, are encouraged to report to Dangote Refinery with their receipts for a full refund of the excess amount.

The approved rates per litre are as follows: 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 set at N825 per litre, Dangote Refinery expects that no Nigerian will pay more than N900 per litre for PMS, regardless of location or petrol station. The refinery also underlined its commitment to providing high-quality, eco-friendly fuel that benefits vehicle performance and supports public health.

“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 said.

Dangote Refinery concluded, “This initiative is one of many ways Dangote Petroleum Refinery & Petrochemicals continues to contribute to a prosperous and sustainable future for our country. In this journey toward energy security, we stand united with the Nigerian people, always striving to provide lasting solutions and a more prosperous future for all.

https://www.channelstv.com/2025/03/03/dangote-to-absorb-%e2%82%a616bn-pms-loss-to-refund-%e2%82%a665-litre-to-marketers/

Dangote, agba baller! Crash d price, send your competitors off market and bring out a new price. We all know what cement price is now.

... can NNPCL compete with the able alhaji?

Nice gesture.

Before an idiot comes to criticise him, tell us how many times Uche has reduced the price of Peak milk or Detergent.

Vanpascore:
Dangote, agba baller! Crash d price, send your competitors off market and bring out a new price. We all know what cement price is now.

Is Dangote the only producer of cement in Nigeria?

My questions to dangote here is why’s he increasing the price of cement again. Per bag is now #11,200. This is unfair here. Dangote reduced the price of fuel but increased the price of cement. Very bad

Dangote is a veteran in the business of monopoly, he plans to take out NNPCL and dominate the oil industry in a few years, NNPCL seems to be so clueless on how to prevent that from happening.

huptin:
Dangote is a veteran in the business of monopoly, he plans to take out NNPCL and dominate the oil industry in a few years, NNPCL seems to be so clueless on how to prevent that from happening.

that’s his plans all this while. Nnpcl should be smarter in outsmart him in the monopoly game he’s playing

Saga16:
Is Dangote the only producer of cement in Nigeria?

Good question.Why not others go produce their own n reduce d price

huptin:
Dangote is a veteran in the business of monopoly, he plans to take out NNPCL and dominate the oil industry in a few years, NNPCL seems to be so clueless on how to prevent that from happening.

We prefer him dominating than using poor quality fuel imported into our market

Vanpascore:
Dangote, agba baller! Crash d price, send your competitors off market and bring out a new price. We all know what cement price is now.

U understand the game. Nigerians think dangote is fircthem

The beautiful thing is that petrol in no distant time will loose its value. Dangote should know this. Meanwhile the price reduction in just to send the competitions out of the market and monopolize the system for personal gains.

press9jatv:
My questions to dangote here is why’s he increasing the price of cement again. Per bag is now #11,200. This is unfair here. Dangote reduced the price of fuel but increased the price of cement. Very bad

Why does Uche increase the price of Milo?

Saga16:
Why does Uche increase the price of Milo?

Stop disgracing your lineage on the internet

Akpaamunsi:
Stop disgracing your lineage on the internet

Why would I when I can disgrace yours?

Saga16:
Why does Uche increase the price of Milo?

not every time now. Stop displaying your ignorance here. So you are happy with the huge increase here. Continue

press9jatv:
not every time now. Stop displaying your ignorance here. So you are happy with the huge increase here. Continue

Shatap.

Why is it different for another businessman but not your bloda?

Hypocrite.

Saga16:
Shatap.

Why is it different for another businessman but not your bloda?

Hypocrite.

your hypocrisy stinks here. Keep defending wickedness here. We will see who will suffer it most. Keep displaying your ignorance here

press9jatv:
your hypocrisy stinks here. Keep defending wickedness here. We will see who will suffer it most. Keep displaying your ignorance here

Shatap.

I'm sure less than a year ago you claimed the refinery was never going to operate.

I know your type.

Fake ass mudafuqer.

Saga16:
Shatap.

I'm sure less than a year ago you claimed the refinery was never going to operate.

I know your type.

Fake ass mudafuqer.

your ignorance stinks here, which thread did I open about it. Keep displaying your ignorance here. No more attention for you this morning

press9jatv:
your ignorance stinks here, which thread did I open about it. Keep displaying your ignorance here. No more attention for you this morning

Who gives a sheet?

Dangote would sell as he finds it appropriate.

Not happy?

Setup your own refinery or import .

Saga16:
Nice gesture.

Before an idiot comes to criticised him, tell us how many times Uche has reduced the price of Peak milk or Detergent.

That's right,
I am wondering when Tunde Sadeen will reduce the price of Agbero bus ticket. Na that one concern me

EmeeNaka:
That's right,
I am wondering when Tunde Sadeen will reduce the price of Agbero bus ticket. Na that one concern me

I'm sure that's a great concern for you.

EmeeNaka:
That's right,
I am wondering when Tunde Sadeen will reduce the price of Agbero bus ticket. Na that one concern me

Abeg tell him to the hypocrite face ooo

Saga16:
Is Dangote the only producer of cement in Nigeria?

No, but how are others doing??