The management of Dangote Refinery has provided further clarification on the much-anticipated N65 per litre refund, explaining how eligible buyers can receive reimbursement under the new pricing structure for petroleum products.
This refund system, which was introduced as part of a strategy to stabilize fuel prices in the country, applies specifically to bulk fuel purchasers, including major oil marketers and industrial consumers who buy in large quantities. According to the company, the initiative is aimed at making fuel more affordable and competitive in the market.
Speaking on the process, a spokesperson for Dangote Refinery stated that companies and distributors purchasing refined petroleum products directly from the refinery will receive a rebate of N65 per litre based on volume agreements. This means that for every litre of fuel purchased in bulk, buyers will receive a direct price reduction at the point of sale.
However, individual consumers who buy fuel at retail filling stations may not directly benefit from this rebate, as it is structured for large-scale buyers who contribute significantly to the fuel distribution network.
Experts believe that this move by Dangote Refinery will help reduce the cost of petrol and diesel in the long run, especially as Nigeria seeks to rely more on locally refined products instead of expensive fuel imports. The initiative is expected to ease the financial burden on transportation companies and businesses that depend on fuel for operations.
While the refinery’s pricing model has been praised, industry observers have called on regulatory bodies to ensure that the benefits of the rebate reach ordinary consumers by preventing unnecessary price inflation by middlemen and fuel marketers.