Business

BREAKING: Dangote promises to refund customers who buy petrol above market price from key partners

Published

1 year ago

March 3, 2025

432 Views

Dangote Petroleum Refinery & Petrochemicals has launched an initiative to refund customers who purchase Premium Motor Spirit (PMS) above advertised rates from its key distribution partners across Nigeria.

The announcement comes after the refinery recently reduced its gantry price from N890 to N825 per litre.

According to a statement released this weekend, the company will refund N65 per litre on over 200,000 metric tonnes of PMS purchased by marketers at the old price before the reduction took effect.

“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 company stated.

The refinery confirmed it has absorbed a N16 billion loss by providing these refunds, emphasizing that the move aligns with President Bola Tinubu’s Renewed Hope Agenda, which aims to stimulate the economy.

Dangote strongly condemned any exploitation of the new pricing structure by marketers.

“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,” the statement declared.

The company has published approved rates for its key partners: MRS will sell at N860 in Lagos, N870 in the South-West, N880 in the North, and N890 in the South-South and South-East.

Heyden and AP (Ardova Plc) will sell at N865 in Lagos, N875 in the South-West, N885 in the North, and N895 in the South-South and South-East.

With these rates in place, Dangote expects no Nigerian should pay more than N900 per litre regardless of location.

Customers who are charged above the advertised rates at any Dangote partner station are encouraged to report to the refinery with their receipts for a full refund of the excess amount.

The refinery underscored its commitment to providing high-quality, eco-friendly fuel that benefits vehicle performance and supports public health while contributing to Nigeria’s energy security and economic growth.

“This initiative is one of many ways Dangote Petroleum Refinery & Petrochemicals continues to contribute to a prosperous and sustainable future for our country,” the company concluded.

Related Topics:Dangote Featured Refinaey

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Business

Meta set to charge WhatsApp Business messages from October 1

For example, a Nigerian fintech company sending 500,000 chargeable utility messages could incur about $5,050 in fees from Meta alone, excluding charges that may come from third-party providers or software platforms used to manage the messaging service.

Published

1 day ago

August 28, 2026

OCHEFA

19 Views

Businesses using Meta’s WhatsApp Business Platform will begin paying for certain messages sent to customers from October 1, 2026, under a new pricing structure announced by the company.

The change applies to organisations that use the WhatsApp Business Platform, formerly known as the WhatsApp Business API, to manage customer communication on a large scale.

Regular WhatsApp users and small businesses using the standard WhatsApp Business app are not the main targets of the new charges.

Under the revised system, the amount businesses pay will depend on the type of message being sent.

Utility messages, including payment alerts, order confirmations and other service-related updates, will cost about $0.0101 per message, while marketing messages will attract a higher fee of approximately $0.062 each.

Although the individual charges appear relatively small, companies that send large volumes of messages could see their communication expenses rise significantly.

Business

Dangote Refinery Suspends Petrol Sales To Lagos Depots

Dangote Refinery is prioritising markets where imported products are either unavailable or less dominant, rather than adding more supply to Lagos, which receives substantial volumes of imported petrol.

Published

1 day ago

August 28, 2026

OCHEFA

20 Views

Dangote Petroleum Refinery has suspended coastal sales of Premium Motor Spirit (PMS) to depot owners and importers in Lagos.

People familiar with the refinery’s operations said that the move is deliberate, aimed at redirecting locally refined petrol to areas where imported supply is scarce.

The suspension is ongoing. A source said: “The suspension of coastal sales to Lagos is still ongoing. It is aimed at redirecting products to locations where imported products are unavailable. Lagos has quite some imported petrol.”

The strategy is intended to ensure locally refined petrol reaches areas where it is most needed.

The decision comes amid concerns at the refinery over the volume of imported petrol entering Nigeria.

According to data available to the refinery, imported PMS accounted for about 43 per cent of total petrol supplied into Nigeria in July

Business

Naira Exchange Rates Friday, August 28

Today, the Naira Black Market exchange rate for 1 Great British Pound (GBP) is 1900 Naira. This means that you can get 1900 Naira for every 1 Pound that you exchange.

How much is 100 pounds in naira today?
At the current black market rate of 1900 per pound, 100 British Pounds = 190,000 Naira.