The Dangote Petrolchemicals Refinery has implemented a further reduction in the ex-gantry price of Premium Motor Spirit (PMS), commonly known as petrol, bringing the price below the publicly declared N835 per litre.
Reliable sources confirmed on Monday that the refinery now charges N825 per litre for its customers, effectively offering a N10 rebate after successful loading of the product at the refinery.
While marketers currently pay N835 per litre upfront, they receive a N10 refund post-loading and evacuation, enabling them to retail petrol between N830 and N835 per litre. This covert price adjustment has made Dangote’s petrol more competitively priced compared to imported marketers and private depot owners.
An official insider explained, “The Dangote refinery has started giving a rebate on its products. It’s not an official reduction yet, but paid back after marketers buy products from them.”
This move follows two price cuts last month when the refinery slashed its gantry price by N45 from N880 to N835 per litre, coinciding with the resumption of the Naira-for-Crude agreement with local refiners. Attempts to get an official comment from Dangote spokesperson Anthony Chiejina on the latest reduction were unsuccessful.
