Marketers Send Message to Dangote Refinery Over New Petrol Price

• The Petroleum Products Retail Outlets Owners Association of Nigeria has praised the management of the Dangote Refinery
• This follows the refinery's announcement of a price reduction to N899.50 per litre, down from the initial price of N970
• The PETROAN president said Dangote Refinery's price reduction would alleviate the suffering of Nigerians and reduce living expenses over the holiday season

Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has praised Dangote Refinery's management for bringing the price of its gasoline down to N899.50K per litre.

ChannelsTV reported that PETROAN spokesperson Joseph Obele said in a statement on Thursday that the action is a huge relief for drivers and Nigerians in general.

“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,” PETROAN stated.

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According to PETROAN president, Billy Gillis-Harry, Dangote Refinery's price cut would lessen Nigerians' suffering and lower living expenses over the holiday season.

“The price reduction will alleviate the suffering of Nigerians and reduce the cost of living and transportation during this festive period,” he said.

Anthony Chiejina, a company representative, stated that the price cut is intended to reduce transportation expenses during the holiday season.

Additionally, the refinery stated that customers could purchase an extra litre of fuel on credit for every litre of fuel purchased with cash.

In November, the privately held refinery reduced the price of its gasoline to N970 per litre.

“To alleviate transport costs during this holiday season, Dangote Refinery is offering a holiday discount on PMS. From today, our petrol will be available at N899.50 per litre at our truck loading gantry or SPM.

“Furthermore, for every litre purchased on a cash basis, consumers will have the opportunity to buy another litre on credit, backed by a bank guarantee from Access Bank, First Bank, or Zenith Bank,” said Chiejina.

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Oil marketers speak on new fuel price at filling stations after Dangote’s decision

Marketers import 2.3bn litres of petrol

Legit.ng earlier reported that oil marketers have continued to rely on imports to deliver gasoline across the country, even though two significant refineries in Nigeria started producing the fuel within the last three months.

According to data gathered last week, marketers imported 2.3 billion litres of gasoline between September 11 and December 5, 2024.

This ongoing importation runs counter to previous declarations made by certain marketers who stated their intention to cease importing and instead concentrate on locally produced goods.

Proofreading by James, Ojo Adakole, journalist and copy editor at Legit.ng.

Source: Legit.ng