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 of Premium Motor Spirit (PMS), commonly known as petrol.
This request follows Dangote Refinery’s decision to reduce its ex-depot price from N970 to N899.50 per litre.
PETROAN commended Dangote Refinery for the price cut, with spokesperson Joseph Obele stating, “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.”
Billy Gillis-Harry, the National President of PETROAN, added, “The price reduction will alleviate the suffering of Nigerians and reduce the cost of living and transportation during this festive period.”
He also called on NNPCL to reassess its pricing structure, saying, “The reduction in petrol prices by Dangote Refinery has shown that competition can benefit consumers.”
He urged NNPCL to facilitate the privatization of the Port Harcourt Refinery, stating that it “will introduce innovative consumer incentives, improve product quality, and enhance service delivery.”
Currently, Dangote Refinery’s ex-depot price is N899.50 per litre, while NNPCL’s price remains higher at N1,030 per litre.
Both Dangote and the Port Harcourt Refinery, owned by NNPCL, began rolling out petrol in September and November 2024.
