PETROAN (The Petroleum Products Retail Outlets Owners Association of Nigeria) has announced a significant development aimed at increasing access to affordable petroleum products nationwide.
The association will sign a direct purchase agreement with three Nigerian refineries, effective Wednesday.
According to a notice issued by PETROAN’s National President, Billy Gillis-Harry, and Secretary, Adedibu Aderibegbe, the agreements will facilitate the direct purchase of refined petroleum products from Allegiance Energy and Power Limited, Claridge Petroleum Company Limited, and Oasis Petrochemical Products Limited.
This strategic move is expected to enhance the availability of affordable fuel across Nigeria, aligning with PETROAN’s commitment to promoting the welfare of its members and the general public.
The development comes on the heels of PETROAN’s New Year message, which hinted at potential reductions in petrol prices in 2025.
Notably, the recent announcements by Dangote Refinery and the Nigerian National Petroleum Company Limited (NNPCL) to reduce retail petrol prices to N935 and N965 per liter, respectively, have already contributed to a more favorable fuel pricing landscape.
The direct purchase agreement between The Petroleum Products Retail Outlets Owners Association of Nigeria and the Nigerian refineries is poised to further bolster this trend.
