The Dangote Petroleum Refinery has quietly implemented a N10 per litre rebate on Premium Motor Spirit (petrol), effectively lowering the ex-gantry price to N825 per litre below the official N835 rate.
Industry sources confirmed on Monday that marketers still pay the full N835 per litre upfront, but receive a N10 refund after loading the product at the refinery.
This move allows them to sell petrol between N830 and N835 per litre, offering a price advantage over competitors sourcing fuel from imports or private depots.
“The rebate is not a formal price reduction but rather a post-sale refund,” one source familiar with the arrangement explained.
The rebate follows a sharp price cut by the refinery last month, when it reduced petrol prices by N45 per litre from N880 to N835 after the federal government resumed the Naira-for-Crude oil swap deal with domestic refiners.
As of press time, efforts to obtain a response from Dangote Group spokesperson Anthony Chiejina were unsuccessful.