Dangote Refinery Introduces N10 Rebate, Effectively Reduces Petrol Price to N82
The Dangote Petrochemicals Refinery has quietly lowered the effective price of Premium Motor Spirit (PMS), commonly known as petrol, through a rebate mechanism that brings the cost below the publicly announced N835 per litre.
Industry sources confirmed on Monday that the refinery is offering a N10 per litre rebate to marketers, effectively reducing the ex-gantry price to N825 after successful product loading and evacuation. However, marketers are still required to pay the full N835 upfront, with the rebate refunded afterward.
“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 familiar with the development said.
This discreet pricing adjustment has allowed marketers to sell PMS at a slightly lower band of N830 to N835 per litre, giving them a competitive edge over importers and private depot operators who continue to face higher acquisition costs.
The rebate comes on the heels of recent price cuts by the refinery. Just last month, Dangote Refinery slashed its ex-depot price twice in one week, reducing it by N45 from N880 to N835 per litre.
These changes are part of a broader market shift following the full resumption of the Naira-for-Crude supply deal between the federal government and local refiners, which had previously been suspended.
Efforts to obtain a response from Dangote Group spokesperson, Anthony Chiejina, on the latest price adjustment were unsuccessful as of press time.