The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) has pledged to push for a further reduction in the price of Premium Motor Spirit (PMS) from the Port Harcourt refinery, which currently stands at ₦1,030 per litre.
Billy Gillis-Harry, the National President of PETROAN, made this commitment during a strategic meeting held in Abuja on Friday. He emphasized the association’s dedication to ensuring that Nigerians access quality petroleum products at more affordable prices nationwide.
“One of the key outcomes of our recent engagements is that PETROAN successfully made a case for more affordable petroleum products,” Gillis-Harry stated. “The Nigerian National Petroleum Company Limited (NNPCL) has reduced the ex-depot price to ₦1,030, and we are optimistic it will be further lowered. Energy security is critical, and PETROAN remains steadfast in advocating for enhanced domestic refining capacity to stabilize supply and prices.”
Gillis-Harry also addressed concerns surrounding the petroleum products recently trucked out from the Port Harcourt refinery, assuring Nigerians of their fresh refinement and high-quality standards.
He highlighted the significance of the Port Harcourt refinery, Dangote refinery, and other upcoming facilities in securing the nation’s energy future.
“As energy security takes center stage, PETROAN is actively working to ensure these products reach Nigerians at competitive prices. We’re confident that with the production of 650,000 barrels per day at the Dangote Refinery and other contributions, the prices will continue to decrease,” he added.
This development comes on the heels of NNPCL’s announcement of crude oil processing and product distribution from the Port Harcourt refinery. While PETROAN confirmed the current ex-depot price at ₦1,030 per litre, the association remains committed to advocating for further reductions.
The revival of the Port Harcourt refinery has stirred public interest, with debates surrounding the operations of state-owned refineries. Meanwhile, PETROAN’s update coincides with Dangote Refinery recently lowering its ex-depot price to ₦970 per litre.
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