PETROAN Calls On NNPC To Match Dangote Refinery’s Petrol Price Reduction
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The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has called on the Nigerian National Petroleum Company Limited (NNPCL) to reduce its ex-depot price of Premium Motor Spirit (PMS), commonly known as petrol, to mirror the price cut implemented by Dangote Refinery.
In a statement released on Thursday, PETROAN’s spokesperson, Joseph Obele, expressed the association’s support for Dangote Refinery’s decision to lower its petrol price from N970 per litre to N899.50 per litre.
This price cut, which represents a N71 reduction, has been hailed as a significant relief for Nigerians, particularly at a time when fuel prices remain a major concern for motorists.
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PETROAN commended Dangote Refinery for its role in easing the burden on Nigerians, especially during the holiday season when transportation costs tend to rise.
Obele noted, “This price reduction is a welcomed relief for motorists and Nigerians at large. It will significantly ease transportation costs and improve the general well-being of citizens as we approach the festive season.”
Billy Gillis-Harry, National President of PETROAN, further emphasized the importance of the price reduction.
He said, “The price reduction by Dangote Refinery will alleviate the suffering of Nigerians and help reduce the cost of living during this festive period.” He also urged the NNPCL to reassess its current pricing structure to encourage healthy competition in the downstream sector and improve service delivery across the board.
“The reduction in petrol prices by Dangote Refinery has shown that competition can directly benefit consumers,” Gillis-Harry added.
“We call on NNPCL to reconsider its pricing strategy and facilitate the privatisation of the Port Harcourt Refinery. Such actions would introduce innovative consumer incentives, enhance product quality, and improve service delivery across the sector.”
Despite the benefits of the price reduction, there remains a noticeable price gap between the ex-depot prices of Dangote Refinery and NNPCL.
Dangote Refinery’s current ex-depot price is N899.50 per litre, while NNPCL’s price stands at N1,030.
