The Dangote Petroleum Refinery has announced that it will refund customers who purchased Premium Motor Spirit (petrol) at rates higher than the advertised prices from any of its key partners – Ardova Plc, Heyden, or MRS – across Nigeria.

The company said this move follows the refinery’s recent reduction of its gantry price from N890 per litre to N825 per litre.

In a statement on Sunday, the refinery stated that this is part of its ongoing efforts to ensure that Nigerians are the primary beneficiaries of the price reduction and in line with President Bola Tinubu’s Renewed Hope Agenda, which aims to stimulate the economy.

The refinery 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 disclosed that the refinery also absorbed a N16bn loss by refunding N65/litre to marketers for Nigerians to benefit from cheaper fuel

“The step, effective February 27, 2025, guarantees that none of our valued business partners will experience a loss due to the price change. More importantly, it ensures that the new, lower rate takes immediate effect nationwide for the benefit of the Nigerian people,” the statement said.

The refinery emphasised that this initiative extends beyond MRS Holdings, Ardova Plc, and Heyden, urging other marketers sourcing stock from it to pass on the benefits of the new pricing to consumers at the retail level, encouraging a collective commitment to affordable, quality products.

Dangote also condemned any exploitation of the new pricing structure.

“It is both unpatriotic and detrimental to the welfare of Nigerians for any party to purchase at a rate of N825 per litre and then sell to consumers at N945 or more per litre. This constitutes excessive profiteering, further burdening Nigerians for personal gain.

“Dangote refinery, in its effort to ensure good quality and affordable fuel for Nigerians, is working with its partners to make this price accessible. Consumers who purchase fuel above the advertised rate at any of its key partners – Ardova Plc (AP), Heyden, or MRS – anywhere in Nigeria are encouraged to report to Dangote refinery with their receipts for a full refund of the excess amount,” the statement added.

The company reiterated, “The approved rates per litre are as follows: MRS: N860 in Lagos, N870 in the South-West, N880 in the North, and N890 in the South-South and South-East; Heyden and AP: N865 in Lagos, N875 in the South-West, N885 in the North, and N895 in the South-South and South-East.

“With the new gantry price set at N825 per litre, Dangote Refinery expects that no Nigerian will pay more than N900 per litre for PMS, regardless of location or petrol station. The refinery also underlined its commitment to providing high-quality, eco-friendly fuel that benefits vehicle performance and supports public health.

“Our commitment aligns with the objectives of President Bola Tinubu’s Renewed Hope Agenda, which champions self-sufficiency in critical sectors like energy. We remain dedicated to supporting Nigeria’s economic growth and ensuring every Nigerian has access to affordable, high-quality energy solutions.”

The Dangote refinery concluded that the initiative is one of the many ways it continues to contribute to a prosperous and sustainable future for our country.

“In this journey toward energy security, we stand united with the Nigerian people, always striving to provide lasting solutions and a more prosperous future for all,” the statement concluded.

Sequel to a consistent surge in the price of Brent, the global benchmark for crude, the Dangote Petroleum Refinery has communicated an upward adjustment in the price of Premium Motor Spirit, also known as petrol, to its customers.

In an email statement obtained by our Correspondent on Friday, the refinery announced that its refined products would now be priced at N955 per litre at the loading gantry, marking an adjustment in its pricing structure.

It noted that marketers buying between 2 million – 4.99 million litres will now buy at N955 per litre while 5 million litres & above will buy at N950 per litre.

The amount marks an increase of N55.5 or 6.17 per cent from N899.50 per litre announced as a holiday discount for Nigerians last year December.

This adjustment applies to all stock balances yet to be lifted by the stated time while pending stock as of the effective time will also be repriced at the updated rates.

The statement added that the new price regime will take effect from 5:30 PM, today.

The notice titled, “Communication on PMS Price Review” read, “Dear Esteemed Customer, Trust this email finds you well.

“Kindly be advised that effective from 5:30 PM today, an upward adjustment has been implemented on the gantry price of Premium Motor Spirit.

Quantity

Previous Price (NGN/Litre)

2 million-9.99 million -N899.50

10 million Litres & Above N895

Quantity

New Price (NGN/ Litre)

2 million – 4.99 million N955

5 million Litres & Above N950

“Please note that all stock balances yet to be lifted as at the above-stated time are to be repriced at the new reviewed prices.

“We shall communicate with customers on their revised volumes based on the reviewed prices, in due course.”

The price increase is expected to have widespread effects on the downstream petroleum sector, particularly private depots and retail markets.

An oil and gas expert, Olatide Jeremiah, said depots are poised to increase the loading price of refined petroleum products because of the heavy influence of the refinery.

Jeremiah, who is the Chief Executive Officer of petroleum price.ng, said, “Dangote Refinery’s influence on Fuel price has become unmatched; private depots, Major marketers, and independent Marketers will compete with this new price. Therefore, Nigerians should expect an increase in Petrol Pump Price.

“Brent Crude oil as of today is $81.84, highest in 2025, its one major factor for the increase.”

On Thursday, the Minister of State Petroleum Resources (Oil), Heineken Lokpobiri, disclosed that the price of crude oil in the international market remains a major force in driving the fluctuations in the pump prices of petrol.

He said the downstream sector is now fully deregulated with the government no longer involved in setting prices.

A middle-aged man identified as Tartor Ayihe has reportedly taken his own life by ingesting insecticide after a dispute over a plot of land he sold to three different individuals in the Ayihe community, near the International Market in Makurdi, Benue State.

The incident, which occurred on Wednesday evening, was said to have been triggered by the controversy surrounding the multiple sales of the same piece of land.

Sources in the community revealed that the deceased had sold a plot of land to three buyers, a situation that led to an outcry and intervention by local leaders.

One of the sources said, “The community leaders had summoned him to a meeting at the residence of the Zaki (chief) to address the crisis and understand how he managed to sell the same plot to three different people.”

During the meeting, the deceased reportedly requested to step out briefly, claiming he needed to retrieve something from his house.

“He went to three different provision shops looking for insecticide. After purchasing it, he went home, switched off his phone, and drank the entire bottle,” the source added.

When the deceased failed to return to the meeting, the chief sent some people to his house.

Upon arrival, they discovered his lifeless body, with the bottle of the insecticide by his side.

The community members immediately rushed him to an undisclosed hospital, but he was pronounced dead on arrival.

When contacted, the spokesperson for the Benue State Police Command, Catherine Anene, confirmed the incident.

“We received the report this morning, and operatives have been dispatched to investigate the matter,” Anene said.