Home Energy Dangote Refinery’s price cut: PETROAN applauds, urges NNPC to follow lead
Energy - December 20, 2024

Dangote Refinery’s price cut: PETROAN applauds, urges NNPC to follow lead

 

 

Stanley Ihedigbo

 

Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has hailed the management of Dangote Refinery for its bold move to reduce the ex-depot price of Premium Motor Spirit (PMS) to ₦899.50 per litre.

This price reduction, a decrease of ₦71 per litre from the initial price of ₦970, is a significant relief for motorists and Nigerians at large, especially during the holiday season.

According to the National President of PETROAN, Dr Billy Gillis-Harry, “The price reduction will alleviate the suffering of Nigerians and reduce the cost of living and transportation during this festive period.”

Harry commended the Nigerian National Petroleum Company Limited (NNPCL) for ensuring sufficient PMS stocks during the yuletide season.

However, he urged NNPCL to revisit its PMS selling rate to foster competition in the downstream sector.

“The reduction in petrol prices by Dangote Refinery has shown that competition can benefit consumers.
We call on NNPCL to facilitate the privatization of the Port Harcourt Refinery, which will introduce innovative consumer incentives, improve product quality, and enhance service delivery,” Harry emphasized.

National Public Relations Officer of PETROAN, Dr. Joseph Obele, reiterated the Association’s commitment to promoting a competitive downstream sector that benefits Nigerian consumers

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