Marketers react after Dangote announces new petrol price Nexovant

• The Petroleum Products Retail Outlets Owners Association of Nigeria has praised the management of the Dangote Refinery
• This is coming after the refinery announced a price slash to N899.50K per litre from the initial price of N970 it earlier sold
• PETROAN President said Dangote Refinery’s price reduction will 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.

Dangote Refinery’s management has received praise from the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) for bringing the price of their gasoline down to N899.50K per litre.

Consumers will have the opportunity to buy Dangote fuel on credit. Photo Credit: Contributor
Source: UGC

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

“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.

Read also

Filling stations leave petrol prices at same rate despite Dangote Refinery slash

According to PETROAN President Billy Gillis-Harry, Dangote Refinery’s price cut will 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 representative for the company, stated that the price cut is intended to save transportation expenses during the holiday season.

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

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

“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.

Read also

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

Marketers import 2.3bn litres of petrol

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

Marketers imported 2.3 billion liters of gasoline between September 11 and December 5, 2024, according to data gathered last week.

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.

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Source: Legit.ng

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