Fuel marketers under the auspices of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) have hailed the decision of Dangote Refinery to slash the price of petrol from its facility.
A statement on Thursday by PETROAN spokesperson, Joseph Obele, said the price reduction would bring significant relief to car users and alleviate the suffering of Nigerians.
“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,” Obele stated.
On his own part, PETROAN President, Billy Gillis-Harry, added that the price reduction by Dangote Refinery would reduce the cost of living and alleviate the suffering of Nigerians.
“The price reduction will alleviate the suffering of Nigerians and reduce the cost of living and transportation during this festive period,” he said.
The reaction comes hours after Dangote Petroleum Refinery announced a price reduction for its Premium Motor Spirit (PMS) product, lowering it to ₦899.50k per litre.
The announcement was made in a statement released on Thursday morning, highlighting the company’s commitment to easing the financial burden on citizens during the festive period.
The company’s spokesman, Anthony Chiejina, said the price reduction is designed to ease transport costs during the festive period.
The refinery also said consumers can purchase an additional litre of fuel on credit for every litre bought on a cash basis.