Refund for Overpriced Petrol Purchases
The Dangote Petroleum Refinery has announced plans to compensate customers who bought Premium Motor Spirit (PMS) at rates exceeding the advertised prices from its key distributors—Ardova Plc, Heyden, and MRS—across Nigeria.
Price Reduction and Compensation Initiative
This decision comes after the refinery recently lowered its gantry price from N890 per litre to N825 per litre. To ensure Nigerians benefit directly from this reduction, the company has committed to refunding N65 per litre for over 200,000 metric tonnes of PMS purchased by marketers at the old rate.
In doing so, the refinery has absorbed a N16 billion loss, reinforcing its commitment to making fuel more affordable for consumers.
Effective Date and Nationwide Impact
According to a statement released on Sunday, the refund process took effect on February 27, 2025. The company assured its business partners that they would not incur losses due to the price adjustment, emphasizing that the new lower rates should be immediately reflected at fuel stations nationwide.
Warning Against Overpricing and Excessive Profits
Dangote Refinery also warned against excessive profiteering, urging all marketers purchasing PMS at the reduced price of N825 per litre to sell fuel at fair rates. The company criticized any attempts to sell above N945 per litre, describing such practices as unpatriotic and harmful to Nigerians.
Reporting Overpriced Fuel for Refunds
Consumers who pay above the approved rates at MRS, Heyden, or Ardova Plc outlets are encouraged to report such cases to Dangote Refinery with their purchase receipts to receive a full refund of the excess amount paid.
The refinery disclosed the approved retail prices as follows:
- MRS: N860 in Lagos, N870 in the South-West, N880 in the North, and N890 in the South-South/South-East.
- Heyden & Ardova Plc: N865 in Lagos, N875 in the South-West, N885 in the North, and N895 in the South-South/South-East.
With the gantry price now set at N825 per litre, Dangote Refinery expects that no Nigerian should pay more than N900 per litre at any fuel station, regardless of location.
Commitment to Quality and Economic Growth
Dangote Refinery reiterated its commitment to providing high-quality, environmentally friendly fuel that enhances vehicle performance and supports public health.
The initiative aligns with President Bola Tinubu’s Renewed Hope Agenda, which prioritizes self-sufficiency in critical sectors like energy. The company pledged to continue supporting Nigeria’s economic growth by ensuring affordable and high-quality energy solutions for all citizens.
