Dangote Petroleum Refinery has announced it will refund customers who purchased Premium Motor Spirit (PMS) also known as petrol at rates higher than its advertised prices from key distributors, following its recent price reduction.
The company stated that the refund applies to fuel purchased from its partners, including Ardova Plc, Heyden, and MRS filling stations throughout Nigeria.
Dangote refinery recently reduced its ex-depot price for petrol from N890 per litre to N825 per litre.
The refinery also reduced retail petrol prices from its partners’ filling stations from an average of N925 to N860.
According to Punch, the refinery stated in a statement on Sunday, March 2, that it plans to refund customers to ensure Nigerians benefit from the price reduction.
It added that the initiative also aligns with President Bola Tinubu’s Renewed Hope Agenda, aimed at stimulating the economy.
The refinery also confirmed it would 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 statement reads:
The statement disclosed that the refinery is ready to absorb a N16bn loss by refunding N65/litre to marketers so that they can adjust their petrol pumps for Nigerians to buy cheaper fuel.
The statement added.
TimesNow.com.ng previously reported that Dangote refinery partnered with some filling stations to sell cheap petrol to Nigerians.
The company reiterated its commitment to high-quality, eco-friendly fuel and aligned the initiative with President Bola Tinubu’s Renewed Hope Agenda, which seeks to drive self-sufficiency in critical sectors, including energy.
The refinery stated.
TimesNow.com.ng also reported that Nigerian National Petroleum Company Limited (NNPCL) retail stations recently announced a reduction of their petrol prices from N960 to N945 per litre in Lagos.
The price adjustment took effect on Thursday, February 13.
Proofreading by James, Ojo Adakole, journalist and copy editor at TimesNow.com.ng.
Source: TimesNow.com.ng
