March 4, 2025
The Petroleum Retailers Outlet Owners Association of Nigeria, PETROAN, have commended NNPC Retail Ltd for reducing the price of petrol from N920 to N875 per litre.
The association said that amidst rising inflation, the move was expected to alleviate financial burden on Nigerians
National President of PETROAN, Dr. Billy Gillis Harry, said the, development was a huge relief to Nigerians.
Harry, stated that “The reduction in PMS price was expected to positively impact Nigerians in reducing transportation cost thereby making it easier for people to commute and transport goods.
“It will reduce food prices. Lower transportation costs will lead to reduced food prices, making it easier for Nigerians to access affordable food”.
PETROAN, also lauded Dangote Refinery for it decision to refund N65 to retail outlet owners who had earlier bought products at a higher price before the reduction.
READ MORE; Dangote To Refund N65 Per Litre To Marketers To Make Up For Price Reduction
“According to the refinery, customers who purchased PMS at higher rates than the advertised prices from Dangote’s key partners are eligible for a refund. The refund amount is N65 per litre on over 200,000 metric tonnes of PMS purchased by marketers at the old gantry price.
“Dangote has absorbed a N16 billion loss to implement these refunds, demonstrating its commitment to fair pricing and consumer welfare.
“The refund initiative will also positively impact retail outlet owners, who will benefit from reduced prices and refunds. Many retail outlet owners purchased PMS at the higher rate before the price reduction, and the refund will help mitigate their losses.
“We commend Dangote Refinery for this initiative, which will help reduce the financial burden on our members,” said Gillis-Harry,
