Uche Cecil Izuora
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has commended the management of Dangote Refinery for slashing 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.”
Dr 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,” Dr Harry emphasized “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.”
Dr. Joseph Obele, National Public Relations Officer of PETROAN, reiterated the Association’s commitment to promoting a competitive downstream sector that benefits Nigerian consumers.