In a major step toward stabilizing Nigeria’s fuel market, the Dangote Petroleum Refinery has announced that Heyden Petroleum and Ardova Plc have joined its efforts to guarantee the steady supply of affordable Premium Motor Spirit (PMS), commonly known as petrol, across the country.
The partnership comes in response to the economic relief provided by President Bola Tinubu’s crude-for-naira swap initiative. Dangote Refinery, in a statement on Thursday, revealed that Heyden Petroleum and Ardova have entered into a bulk purchase agreement with the refinery to secure a reliable and consistent supply of petroleum products.
This strategic collaboration aims to provide Nigerians with affordable fuel prices, further boosting energy security and stabilizing the fuel market. The agreement builds on a previous deal with MRS Oil Nigeria Plc, which recently slashed its fuel prices to N935 per litre nationwide, addressing long-standing price disparities across states.
The Dangote Refinery, the world’s largest single-train refinery, emphasized that this bulk purchase deal with Ardova and Heyden will ensure the continuous supply of petroleum products, benefiting consumers across the country. The partnership also strengthens the supply chain for these companies, allowing them to access a wide range of refined products for their operations.
Ardova Plc, which has been a key offtaker of Dangote’s refined products since the refinery’s inception, called the agreement a significant development for Nigeria’s downstream oil and gas sector. The new framework is expected to formalize and enhance the partnership, fostering a more competitive environment within the industry.
The Dangote Refinery’s large-scale operations, which began production in 2024, have already alleviated the persistent issue of fuel scarcity. The refinery’s consistent supply has helped stabilize the market, especially during peak periods like the festive season, when fuel availability was smooth and prices remained stable.
The agreement with Heyden Petroleum, Ardova, and MRS Oil marks a transformative moment for Nigeria’s fuel sector, with the potential to address the country’s recurring fuel supply challenges and bring lasting stability to the market.
