By Miracle Ogunde
Following the reduction in depot price of petrol from the Dangote Refinery from N970 to N899.50 per litre, the Petroleum Products Retail Outlets Owners Association of Nigeria, PETROAN, has implored the Nigerian National Petroleum Company Limited, NNPCL to follow suit.
PETROAN spokesperson, Joseph Obele, made the appeal in a statement on Thursday.
“This price reduction, a decrease of N71 per litre from the initial price of N970, is a significant relief for motorists and Nigerians at large, especially during the holiday season,” the statement stated.
Also reacting, the National President of PETROAN, Billy Gillis-Harry, said that the price reduction by Dangote Refinery would alleviate the suffering of Nigerians and reduce the cost of living during the festive period.
“The price reduction will alleviate the suffering of Nigerians and reduce the cost of living and transportation during this festive period,” he said.
He also 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. 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.
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