Nigeria’s petrol retailers are seeking more predictable pump prices by working with domestic refineries, the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) said after a visit to the Azikel domestic refinery.
Quick facts
- PETROAN wants stable petrol pricing for consumers.
- The association says local refining must play a larger role in fuel supply.
- Petrol in Abuja and nearby areas currently sells for N1,370-N1,450 a litre.
- Filling stations lowered prices after Dangote Refinery reduced its petrol charge by N25 a litre.
PETROAN spokesperson Joseph Obele announced the position in a statement issued on Tuesday. The group said Nigeria can no longer depend on overseas refineries to process the crude oil needed to power the domestic economy.
National President Billy Gillis-Harry said retailers were ready to form workable partnerships with Nigerian-owned refineries. Such arrangements, he said, could raise product availability, reinforce distribution networks and give companies and households greater visibility on future fuel costs.
Gillis-Harry added that PETROAN’s aim extends beyond obtaining fuel for its members. The association wants lasting commercial ties in which refiners and marketers share fair and mutually beneficial terms.
The push comes as motorists in Abuja and surrounding areas are paying between N1,370 and N1,450 per litre for petrol. Retail prices have already moved lower at some filling stations following Dangote Refinery’s N25-per-litre reduction in its petrol price.
