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NIGERIA — Dangote Petroleum Refinery has reduced the price of Premium Motor Spirit, PMS, also known as petrol by two per cent to N970 per litre, from the previous price of N990 per litre.
This information was contained in a statement issued by the Group Chief Branding and Communications Officer, Dangote Petroleum Refinery, Anthony Chiejina.
According to the statement, “Dangote Petroleum Refinery has effected a reduction in the prevailing price of its PMS from N990 per litre to N970 per litre for the marketers.
“As the year comes to an end, this is our way of appreciating the good people of Nigeria for their unwavering support in making the refinery a dream come true. In addition, this is to thank the government for its support as this will complement the measures put in place to encourage domestic enterprise for our collective wellbeing.
“While the refinery would not compromise on the quality of its petroleum products, we assure you of best quality products that are environmentally friendly and sustainable.
“We are determined to keep ramping up production to meet and surpass our domestic fuel consumption, thus, dispelling any fear of a shortfall in supply.”
Reacting to the development, oil marketers, under the auspices of the Petroleum Products Retail Outlets Owners Association of Nigeria, PETROAN, have began negotiation, targeted at putting in place clear terms to lift petrol from the $20 billion Dangote Refinery.
Chairman of PETROAN, Billy Gillis-Harry, who confirmed the deal, according to the Vanguard report said: “We have started negotiating with the refinery. It will not be one of those deals. We need concrete terms to be discussed, agreed and signed for the business relationship. We need to agree on daily, weekly, or monthly quantity, price, and logistics.
“Everything has to be clearly stated because we need to reduce or eliminate unnecessary inconveniences, including delays, which usually culminate in high cost of operations while impacting the ease of doing business in Nigeria.”
Recall that the Federal government granted the approval for marketers to begin lifting from the Dangote Refinery without going through the Nigerian National Petroleum Company Limited, NNPCL.
Sequence to the approval, the members of Major Energy Marketers Association of Nigeria, MEMAN, have commenced direct lifting of petrol from the refinery.
