- Dangote Refinery partners with Heyden Petroleum and Ardova Plc to ensure a steady supply of affordable Premium Motor Spirit (PMS) in Nigeria.
- Bulk purchase agreements will stabilise the fuel market, reduce fuel scarcity, and foster competition in the downstream oil sector.
- The Dangote Refinery, operational since 2024, has played a key role in stabilising fuel supply and preventing price hikes, especially during the festive season.
The Dangote Petroleum Refinery has partnered with Heyden Petroleum and Ardova Plc to guarantee a steady supply of affordable Premium Motor Spirit (PMS) in Nigeria. President Bola Tinubu’s crude-for-naira swap initiative facilitated this deal, aiming to stabilise the country’s fuel market and improve consumer energy security.
The refinery and the two companies signed a bulk purchase agreement to ensure consistent access to refined petroleum products at competitive prices. This move follows a similar agreement with MRS Oil Nigeria Plc, which recently cut fuel prices to N935 per litre nationwide. MRS oil’s price reduction has helped address fuel price disparities, benefiting consumers across Nigeria.
MRS oil’s price reduction has also led to a surge in its stock value, sparking increased investor optimism about the company’s future. The new bulk purchase agreement between Dangote Refinery, Ardova, and Heyden will provide a stable and reliable supply of refined products, supporting both companies’ operations.
Ardova Plc, a long-term partner of Dangote Refinery, emphasised the importance of the agreement. The company believes the deal will foster competition in Nigeria’s downstream oil and gas sector. Ardova sees the enhanced partnership as a long-term benefit, ensuring a steady and affordable fuel supply across its retail outlets.
Ardova operates over 1,000 retail outlets nationwide. The new agreement will address Nigeria’s recurring fuel scarcity issues by stabilising affordable fuel supply. This partnership aims to prevent future fuel shortages and price hikes.
The Dangote Refinery began operations in 2024, helping ease fuel supply pressures in the country. Since then, it has been key in stabilising the fuel market and preventing price increases. During the recent festive season, Nigerians experienced smooth fuel availability without significant price hikes at the pump. This marks a considerable improvement compared to previous years, which often saw fuel shortages and arbitrary price increases.
The Dangote Refinery has become vital to transforming Nigeria’s oil and gas market. Its operations ensure that consumers have access to affordable and consistent fuel supplies, and its efforts have helped address long-standing challenges in the sector.
The refinery also plays a crucial role in ensuring energy security for Nigerian consumers. The new partnership will strengthen the refinery’s position in stabilising the fuel market, benefiting consumers and the oil and gas industry. With its focus on affordable prices and steady supply, the Dangote Refinery will continue to shape Nigeria’s energy sector’s future.
In summary, the Dangote Refinery’s partnership with Heyden Petroleum and Ardova Plc represents a significant step in stabilising Nigeria’s fuel market. The bulk purchase agreement will guarantee a steady supply of refined products, benefiting consumers nationwide. The deal will reduce fuel scarcity and support competition in Nigeria’s oil and gas sector. The Dangote Refinery remains pivotal in securing Nigeria’s energy future through these strategic partnerships.