Dangote Petroleum Refinery & Petrochemicals has said it would absorb N16bn loss by refunding N65/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 fro, N890 per litre to N825 per litre.
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 will 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. (Channels)