Dangote Refinery is preparing to meet with the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) to discuss arrangements for direct petrol supply. This comes shortly after the Independent Petroleum Marketers Association of Nigeria (IPMAN) announced an agreement to purchase petrol directly from Dangote Refinery, bypassing intermediaries.
PETROAN’s Publicity Secretary, Joseph Obele, confirmed that Dangote Refinery had sent an email to PETROAN President, Dr. Billy Harry, proposing a strategic business meeting. Dr. Harry has already formed a seven-member team to attend the meeting, where PETROAN’s main focus will be ensuring affordable, high-quality products for consumers, while adhering to industry standards.
Obele expressed optimism about the meeting, believing it will benefit the public, Dangote Refinery, and petroleum retail outlet owners. PETROAN also commended Dangote Refinery for its direct sales agreement with IPMAN, which could help lower fuel prices by removing intermediaries, including the Nigerian National Petroleum Company Limited (NNPCL).
The discussions between Dangote Refinery and key industry stakeholders, along with global market adjustments, could potentially lead to a decrease in Premium Motor Spirit (PMS) prices in Nigeria. PETROAN emphasized the importance of strategic talks to maintain operational efficiency and harmony within the sector, further noting that recent efforts indicate a positive outlook for consumers.
