The Dangote Petrochemicals Refinery has quietly slashed the effective ex-depot price of Premium Motor Spirit (PMS) by N10, bringing the cost down from N835 to N825 per litre for marketers.
Sources familiar with the matter confirmed on Monday that while marketers initially pay the full N835 per litre at purchase, the refinery now issues a N10 rebate after the products are loaded.
“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,” a source explained.
Though not officially announced, the rebate is allowing marketers to retail petrol at slightly lower rates, ranging between N830 and N835 per litre. This gives Dangote’s clients a pricing advantage over importers and private depot operators who continue to sell at higher prices.
This development comes just weeks after Dangote Refinery implemented two consecutive price cuts in April, reducing the gantry price from N880 to N835—a cumulative N45 decrease.
Industry analysts believe the latest adjustment may be linked to the reinstatement of the Naira-for-Crude policy, which requires local refineries to pay for crude oil in the local currency. The policy had previously been suspended but was recently reintroduced by the Federal Government.
As of press time, efforts to reach Dangote Group’s spokesperson, Anthony Chiejina, for an official comment on the rebate policy were unsuccessful.
