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PETROAN: The price reduction will alleviate the suffering of Nigerians and reduce the cost of living and transportation during this festive period
By Valentine Amanze
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has applauded the management of Dangote Refinery for slashing the ex-depot price of Premium Motor Spirit (PMS) to ₦899.50 per litre.
This price reduction, a decrease of ₦71 per litre from the initial price of ₦970, is a significant relief for motorists and Nigerians at large, especially during the holiday season.
The National President of PETROAN, Dr Billy Gillis-Harry, in statement issued by Dr. Joseph Obele, the national public relations officer, PETROAN, assured that the new price would reduce hardship in Nigeria.
His words: “The price reduction will alleviate the suffering of Nigerians and reduce the cost of living and transportation during this festive period.”
Gillis-Harry also commended the Nigerian National Petroleum Company Limited (NNPCL) for ensuring sufficient PMS stocks during the yuletide season.
Besides, he urged NNPCL to revisit its PMS selling rate to foster competition in the downstream sector.
“The reduction in petrol prices by Dangote Refinery has shown that competition can benefit consumers,” Gillis-Harry said.
“We call on NNPCL to facilitate the privatization of the Port Harcourt Refinery, which will introduce innovative consumer incentives, improve product quality, and enhance service delivery.”
Dr. Joseph Obele, the national public relations officer of PETROAN, said that the association’s commitment to promoting a competitive downstream sector that benefits Nigerian consumers.
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