The Dangote Petroleum Refinery has announced plans to refund customers who purchased Premium Motor Spirit (PMS) at rates higher than the newly reduced prices from its key distribution partners—Ardova Plc, Heyden, and MRS—across Nigeria.
Papers News gathered that this move follows the refinery’s decision to cut its gantry price from ₦890 per litre to ₦825 per litre in a bid to ensure Nigerians benefit from the price reduction and align with President Bola Tinubu’s Renewed Hope Agenda, aimed at stimulating the economy.
The refinery confirmed that it would refund ₦65 per litre on over 200,000 metric tonnes of PMS sold to marketers at the old price before the adjustment. This initiative comes at a ₦16bn loss, which Dangote Refinery has decided to absorb to ensure that Nigerians get access to cheaper fuel.