The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has commended Dangote Refinery for reducing the ex-depot price of Premium Motor Spirit (PMS) to ₦899.50 per litre—a notable ₦71 reduction from the previous price of ₦970.
Dr. Billy Gillis-Harry, National President of PETROAN, hailed the price cut as a timely intervention that offers relief to Nigerians, particularly during the holiday season. “This reduction will alleviate the economic pressures faced by Nigerians and help lower transportation and living costs during this festive period,” Dr. Harry remarked.
While applauding the Nigerian National Petroleum Company Limited (NNPCL) for maintaining adequate PMS stocks for the yuletide, Dr. Harry urged the company to follow Dangote Refinery’s lead by reviewing its PMS selling rate. He stressed that such a move would encourage healthy competition in the downstream sector, ultimately benefiting consumers.
“The actions of Dangote Refinery highlight the positive impact of competition on consumer prices. We call on NNPCL to prioritize the privatization of the Port Harcourt Refinery to drive innovation, enhance product quality, and improve service delivery,” Dr. Harry added.
Dr. Joseph Obele, National Public Relations Officer of PETROAN, reinforced the Association’s commitment to fostering a competitive and consumer-friendly downstream sector. “Our focus remains on ensuring that Nigerians reap the full benefits of a liberalized petroleum market,” Dr. Obele stated.
PETROAN’s advocacy underscores the vital role of collaboration and competition in stabilizing prices and improving the overall experience for Nigerian fuel consumers.
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