The Petroleum Products Retail Outlets Owners Association of Nigeria, PETROAN, met with Nigeria’s Minister of State (Oil), Senator Heineken Lokpobiri, on Monday to discuss issues affecting the country’s downstream sector, including price stability.
In his remarks, PETROAN’s president, Billy Gillis-Harry, called for a permanent percentage allocation of petroleum products to its members to ensure efficient distribution to Nigerians.
Gillis-Harry urged the minister to endorse the PETROAN Quantity Assurance Quality Control Price Intelligence and Monitoring System to support existing technology in tracking and safeguarding loaded petroleum products from the depot to their final destination.
He emphasised the need for the government to support multiple sources of petroleum product supply to encourage healthy competition.
According to him: “This will drive healthy competition and guarantee that our domestic prices will not exceed import parity, thereby ensuring the best possible affordability with sustainability.
“PETROAN believes in fair competition. The Nigerian Midstream and Downstream Petroleum Regulatory Authority and the Federal Competition and Consumer Protection Commission must remain vigilant and active in protecting the market from unfair competition practices for the ultimate benefit of consumers and Nigerians.”
He added: “PETROAN advocates for a well-equipped designated training centre across the six geopolitical zones for petroleum products, tanker drivers, and conductors. This will ensure that only trained and certified drivers operate on our roads, enhancing safety and preventing incessant gas explosions.”
Media Talk Africa reports that marketers and retailers lost billions following the recent petrol price reduction by Dangote Refinery and NNPCL.
In response, PETROAN has called for a six-month price stability plan that would be beneficial to all players in Nigeria’s downstream sector.
Petrol price drop: PETROAN meets Nigerian Petroleum Minister
