The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has urged the Nigerian National Petroleum Company Limited (NNPCL) to lower its petrol (PMS) price, following a recent reduction by Dangote Refinery.
Beyond Boders reports that Dangote Refinery recently cut its ex-depot petrol price from N970 to N899.50 per litre, saving N71 per litre.
PETROAN’s spokesperson, Joseph Obele, described the price slash as a big relief for Nigerians, especially during the festive season.
“This is a significant relief for motorists and Nigerians at large, especially during the holiday season,” PETROAN stated in a Thursday announcement.
Billy Gillis-Harry, the National President of PETROAN, praised the move, saying it would ease the hardships faced by Nigerians and reduce living costs during the holidays.
“The price reduction will alleviate the suffering of Nigerians and reduce the cost of living and transportation,” he added.
Gillis-Harry also called on NNPCL to lower its petrol price and privatize the Port Harcourt Refinery to encourage healthy competition and better services 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 privatisation of the Port Harcourt Refinery, which will introduce innovative consumer incentives, improve product quality, and enhance service delivery,” he said.
Currently, NNPCL’s petrol price is N1,030 per litre, while Dangote Refinery offers it at N899.50.
Meanwhile, oil marketers from the Independent Petroleum Marketers Association of Nigeria (IPMAN) have predicted a drop in retail petrol prices. They expect petrol to sell at N950 per litre in Lagos and N990 in Abuja.
IPMAN’s National Publicity Officer, Chief Chinedu Ukadike, confirmed this during an interview, noting that the price of petrol is gradually moving below N1,000 per litre across the country.
