The President of the Petroleum Products Retail Outlet Owners Association of Nigeria, Billy Gillis‑Harry, clarified the association’s position on the recent petrol‑price cut by the Dangote Refinery. While the association does not oppose the reduction, it is concerned about the substantial losses its members are incurring because the price drop was sudden. The refinery, owned by Alhaji Aliko Dangote, lowered the gantry price from N828 to N699 per litre and set a new pump price of N739 per litre. Gillis‑Harry explained that many members had bought large volumes of petrol at the higher price, only to see the price fall before they could sell their stock, resulting in losses amounting to billions of naira.
Gillis‑Harry emphasized that the association supports lower petrol prices but believes the refinery should have notified retailers before implementing the change. He stressed that the association is not against the Dangote Refinery; rather, it seeks a fair price reduction that does not harm its members. He also called for multiple sources of petrol supply in Nigeria to avoid a downstream monopoly, noting that reliance on a single supplier has caused difficulties in the past and that the entry of new players would be welcomed.
Addressing concerns about fuel quality, Gillis‑Harry acknowledged past instances of substandard products but pointed out that authorities have taken corrective steps. He highlighted the Nigerian Midstream and Downstream Petroleum Regulatory Authority’s (NMDPRA) robust laboratory department, which certifies the quality of petrol products.
In summary, the PETROAN president’s remarks underscore the complexities of Nigeria’s petrol market and the need for transparent, fair pricing mechanisms. The association’s worries about the abrupt price cut and its impact on businesses highlight the importance of effective communication and cooperation among industry stakeholders. As the government works to improve the energy sector, it must consider the concerns of all parties to ensure a stable and efficient market.
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