Dangote Petroleum Refinery & Petrochemicals has said it will refund ₦65 per 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 ₦890 per litre to ₦825 per litre.
Some retail outlets belonging to the Nigerian National Petroleum Company Limited (NNPCL) have adjusted the petrol pump price to ₦860 per litre.
While there is no official communication from the NNPCL Retail yet, some stations in Lagos adjusted their pumps to ₦860 per litre, down from ₦945 as of Sunday.
NNPC spokesperson, Olufemi Soneye, did not respond to calls or messages regarding the development.
However, the National Vice President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Hammed Fashola, confirmed the development, saying, “It is true, NNPC is selling petrol at ₦860 in the filling stations. Though this has not been reflected on the portal, they told me they are working on updating the portal,” the IPMAN leader said.
Also, the National President of the Petroleum Products Retail Outlet Owners Association of Nigeria, Billy Gillis-Harry, said, “They reduced the pump price earlier this morning but I’m yet to get the details.“
The Dangote Refinery said it will absorb a whopping ₦16 billion to get more fuel into the hands of more Nigerians at a cheaper rate.
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