In order to benefit from cheaper fuel, Daganto Petroleum Refinery & Petrochemicals has declared that it will cover N16 billion lost by refunding marketers N65/litre.
The refinery said in a statement released over the weekend that it will refund customers who pay premium motor spirits (PMS) from any of its key partners in Nigeria who pay more than the retail price from AP (Ardova Plc), Heyden, or MRS.
This change comes in response to the refinery’s recent reduction in the gantry price from N890 to N825.
According to the refinery, this is in line with President Bola Tinubu’s Renewed Hope Agenda, which aims to boost the economy, and is part of its ongoing efforts to ensure that Nigerians are the main beneficiaries of the price reduction.
The refinery confirmed that it will refund N65 per litre on PMS purchased by marketers for the previous N890 per litre before the new N825 per litre rate.
The price change will result in no losses for any of our valued business partners, as of February 27, 2025, according to the announcement. Importantly, it guarantees that the new, lower rate will immediately apply to all of Nigeria’s citizens, the statement said.
The refinery made it clear that this initiative covers Heyden, Ardova Plc (AP), and MRS Holdings.
It encouraged other marketers to spread the benefits of the new pricing to consumers at the retail level, urging them to commit to providing consumers with affordable, high-quality goods.
Dangote also objected to any unauthorized use of the new pricing structure. Any party purchasing at N825 per litre and then selling to consumers at N945 or more per litre is both unpatriotic and detrimental to the welfare of Nigerians. Further burdening Nigerians for personal gain, the statement added, “this constitutes excessive profiteering.”
Working with its partners to make this price affordable, “Dangote Refinery is working to ensure good quality and affordable fuel for Nigerians.” Anytime anywhere in Nigeria, customers who pay over the advertised price are encouraged to report to Dangote Refinery with their receipts for a full refund of the excess fuel. This includes purchases made by any of its key partners, such as AP (Ardova Plc), Heyden, or MRS.
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Heyden and AP: N865 in Lagos, N875 in the South-West, N885 in the North, and N895 in the South-South and South-East, respectively.
No Nigerian will pay more than N900 per litre for PMS, regardless of location or gas station, with the new gantry price set at N825 per litre. The refinery also stressed its commitment to providing high-quality, eco-friendly fuel that benefits both vehicle performance and public health.
Our commitment “always aligns with the Renewed Hope Agenda, which promotes self-sufficiency in crucial areas like energy,” says President Bola Tinubu. Every Nigerian has access to affordable, high-quality energy solutions despite our continuing commitment to supporting the country’s economic growth, the refinery said.
Source: Channels TV
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