Petroleum Marketers have reached an agreement with the Dangote refinery on the supply of petrolThe agreement between marketers and Dangote is set to assure that there will be no scarcity of petrol during the yuletide periodThe development is coming as filling stations make adjustments to their pump prices across the country
Henzodaily.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has finalised an agreement with the Dangote Petroleum Refinery to directly lift petroleum products for distribution to depots and retail outlets nationwide.
Dangote refinery to supply marketers petrol
Photo credit: Benson Ibeabuchi
Source: Getty Images
Dangote, marketers reach agreement
Joseph Obele, the National Public Relations Officer of PETROAN, confirmed the agreement in a statement, Punch reports.
Obele explained that the deal sealed with Dangote Refinery was the aftermath of successful buyer-seller negotiation and agreement secured by PETROAN at the strategic meeting, the Nation reports.
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The statement reads:
“The National President of PETROAN, Dr. Billy Gillis-Harry, on December 2, 2024, led our negotiation team to a fruitful strategic business meeting with the Dangote refinery management.”
He, however, did not disclose the details of the agreement but expressed confidence that the measures put in place by PETROAN will ensure fuel supply during the Yuletide.
The statement added:
“We reserve the right not to make public the business terms and conditions, even as we express optimism that the greatest beneficiaries in all shall be the general public as it concerns product availability and affordability.”
Filling stations’ petrol price
Meanwhile, Henzodaily.ng observed that there was a slight change in fuel prices at the filling stations visited.
At Ikotun, a filling station, fuel attendant Jumoke Akinsanya confirmed that N30 reduced the pump price on Friday.
She said:
“As of last week, we sold one litre of fuel for N1,080, but the price was reduced to N1,050 per litre since Friday.”
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Dangote’s petrol price
Henzodaily.ng earlier reported that the Dangote Refinery and Petrochemicals decided to reduce the price of its petrol product.
In a statement, the refinery revealed that marketers can now purchase its product at N970 per litre, down from the previous price of N990.
A Nigerian man took to social media to express his gratitude to the Dangote Refinery management.
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Source: Henzodaily.ng