PETROAN Orders Marketers to Reduce Petrol Prices as Dangote Refinery Sells at N890/Litre

By Abidemi Samuel

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The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) has directed its members to lower the pump price of petrol, following the commencement of sales by the Dangote Refinery at a competitive price of N890 per litre.

In a statement issued by PETROAN, the association urged its members to adjust their prices accordingly, to reflect the new market reality. This move is expected to bring relief to Nigerian consumers, who have been bearing the brunt of high petrol prices in recent times.

The Dangote Refinery, which is one of the largest refineries in Africa, has been touted as a game-changer in the Nigerian petroleum industry. With its production capacity of 650,000 barrels per day, the refinery is expected to meet the country’s petrol needs and even export to other countries.

The refinery’s decision to sell petrol at N890 per litre is seen as a bold move to stabilize the market and provide affordable fuel to Nigerians. This price is significantly lower than the current market price, and it is expected to trigger a price war among marketers.

PETROAN’s directive to its members is a welcome development, as it will help to reduce the financial burden on Nigerian consumers. The association has assured that its members will comply with the directive and adjust their prices accordingly.

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