The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has called on the Nigerian National Petroleum Company Limited (NNPCL) to lower its ex-depot price for Premium Motor Spirit (PMS), commonly known as petrol.
In a statement on Thursday, PETROAN spokesperson Joseph Obele urged NNPCL to take a cue from Dangote Refinery, which recently reduced its ex-depot price of PMS from N970 to N899.50 per litre.
Commending Dangote Refinery for the price cut, PETROAN described the move as a significant relief for Nigerians, particularly during the festive season. “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 association stated.
Billy Gillis-Harry, the National President of PETROAN, also lauded the reduction, noting its potential to ease economic pressures on citizens. “The price reduction will alleviate the suffering of Nigerians and reduce the cost of living and transportation during this festive period,” he said.
Gillis-Harry further urged NNPCL to reconsider its PMS selling rate to enhance competition within the downstream sector. He emphasized the benefits of privatisation, stating, “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.”
Currently, Dangote Refinery’s ex-depot price for PMS stands at N899.50 per litre, while NNPCL’s rate remains at N1,030 per litre.
METROBLOG recalls that Dangote Refinery began petrol distribution in September 2024, while NNPCL’s Port Harcourt Refinery followed suit in November 2024.
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