Abuja Nigeria – March 3, 2025
In a major move to alleviate the burden of high fuel costs on Nigerians, Dangote Petroleum Refinery & Petrochemicals has announced its decision to absorb a staggering N16 billion loss by refunding N65 per litre to marketers. This initiative is aimed at ensuring that consumers benefit from more affordable fuel prices across the country.
The company made the disclosure in a statement issued on Monday, emphasizing its commitment to supporting economic stability and making petroleum products accessible to all Nigerians. According to the statement, Dangote Refinery will refund marketers N65 per litre to offset the current price differences, making fuel more affordable for end users.
“We recognize the challenges Nigerians face due to high fuel prices. As part of our corporate responsibility and commitment to national development, we have taken the decision to refund marketers to stabilize fuel prices and ensure the public enjoys the benefits of domestic refining,” the statement read.
Industry experts have lauded this move as a significant intervention in the petroleum sector, particularly at a time when global crude oil prices remain volatile. Analysts believe this initiative will not only ease financial pressure on consumers but also promote competition in the downstream sector.
The Dangote Refinery, located in Lagos, is Africa’s largest single-train refinery, with a capacity of 650,000 barrels per day. The facility, which began operations recently, has been instrumental in reducing Nigeria’s reliance on imported refined petroleum products. The company has assured Nigerians that it remains dedicated to ensuring a steady supply of petroleum products at competitive prices.
Marketers have also welcomed the development, noting that it will enable them to sell fuel at more affordable rates without incurring losses. Many filling stations are expected to adjust their pump prices accordingly in the coming days, offering relief to millions of Nigerians grappling with the high cost of living.
With this bold step, Dangote Refinery has reaffirmed its position as a game-changer in the Nigerian oil and gas industry, taking proactive measures to cushion the impact of rising energy costs on the nation’s economy.
