The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has signed a petrol purchase agreement with Dangote Refinery.
This announcement was made on Friday in a statement by PETROAN’s National Public Relations Officer, Joseph Obele.
The agreement follows a successful business meeting between PETROAN and Dangote Refinery earlier in the week.
PETROAN’s National President, Billy Gillis-Harry, led the negotiation team to the refinery complex in Lagos. During the meeting, both parties discussed and agreed on key terms, including monthly fuel volumes for PETROAN and payment arrangements.
Mr. Gillis-Harry praised Dangote Refinery’s Vice President, Devakumar Edwin, for his cooperation and efforts to ensure that petrol remains available and affordable for Nigerians, especially during the festive season.
“We hereby reassure Nigerians of PETROAN’s preparedness to ensure zero-scarcity of petroleum products during the upcoming festive season and beyond as all our retail outlets operators in all the states in Nigeria have been placed on green alert for service,” Mr. Gillis-Harry said.
PETROAN expressed satisfaction with the deal, emphasizing its benefits for the public. However, the association did not disclose specific terms of the agreement.
To calm fears of a possible fuel shortage, PETROAN reassured Nigerians that all its retail outlets across the country are on high alert to maintain steady supply. It also warned against panic buying and unsafe storage of petrol at home.
PETROAN urged other stakeholders in the fuel industry to support Dangote Refinery and NNPC Retail Ltd to ensure smooth and uninterrupted distribution of petroleum products nationwide.
This development comes after Dangote Refinery reduced its petrol price from ₦990 per litre to ₦970 per litre in November.
Beyond Boders further reports that independent petroleum marketers had earlier asked the refinery to review its pricing strategy to make products more affordable for retailers.
