Dangote Petroleum Refinery & Petrochemicals has announced a refund for customers who purchase Premium Motor Spirit (PMS) at rates higher than the advertised prices from 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 will refund N65 per litre on over 200,000 metric tonnes of PMS purchased by marketers at the old gantry price. This amounts to a N16 billion loss for the refinery.
Dangote also urged other marketers sourcing stock from it to pass on the benefits of the new pricing to consumers at the retail level.
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