Dangote Petroleum Refinery has entered into a significant partnership with Heyden Petroleum and Ardova Plc to ensure the steady distribution of affordable Premium Motor Spirit (petrol) across Nigeria.
In a statement on Thursday, the refinery highlighted that this collaboration was spurred by the federal government’s crude-for-naira policy, aimed at reducing fuel prices and enhancing economic stability.
“This strategic partnership guarantees a stable supply of petroleum products at reduced rates, reinforcing energy security and promoting price uniformity across the country,” the statement noted.
The move follows a similar agreement between Dangote Refinery and MRS Oil Nigeria Plc, which led to a significant drop in fuel prices to N935 per litre across MRS stations nationwide.
Investors have responded positively to these developments, with MRS Oil shares hitting a 52-week high last Friday amid growing confidence in the company’s financial outlook.
The new agreement will provide Heyden and Ardova with a consistent supply of refined products from Dangote’s state-of-the-art refinery, ensuring more Nigerians benefit from affordable fuel prices.
