- PETROAN has partnered with Dangote Refinery to ensure a steady supply of petroleum products during the festive season, preventing scarcity
- The agreement guarantees product availability and affordability, addressing concerns over fuel shortages and enhancing efficiency for petroleum retailers nationwide
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has finalized a partnership with the Dangote Petroleum Refinery to ensure a steady supply of petroleum products during the yuletide season. This collaboration aims to prevent fuel scarcity and ensure affordability across the country.
PETROAN’s National Public Relations Officer, Dr. Joseph Obele, confirmed the arrangement in a statement issued on Friday. The agreement follows extensive negotiations with the $20 billion Lekki-based Dangote Refinery and guarantees product availability for PETROAN members nationwide.
“The National President of PETROAN, Dr. Billy Gillis-Harry, led the negotiation team to a successful strategic business meeting with the Dangote Refinery management on Monday, December 2, 2024,” Obele stated.
The discussions covered monthly volume reservations, payment modalities, and favourable pricing for PETROAN members.
Obele emphasized that the public benefits the most from this deal, ensuring the availability and affordability of petroleum products. “We are optimistic that this partnership will address product availability and cost concerns during the festive season.
We urge stakeholders to support the management of NNPC Retail Ltd and the Dangote Refinery in sustaining supply efforts,” he added.
PETROAN also dismissed fears of fuel scarcity and cautioned Nigerians against panic buying, assuring that the deal will eliminate middlemen, reduce costs, and enhance efficiency.
This development marks the conclusion of several months of negotiations and aligns with the Dangote Refinery’s objective to streamline fuel distribution in Nigeria.
The partnership comes as the Port Harcourt Refining Company begins exporting low-sulphur straight-run fuel oil, with its first shipment destined for Dubai, UAE.
However, the refinery’s output has drawn mixed reactions from industry operators regarding its operational efficiency.
The Dangote Refinery, Africa and Europe’s largest has already commenced production of petrol, diesel, and aviation fuel. It plans to supply over 30,000 Independent Petroleum Marketers Association of Nigeria (IPMAN) members and 150,000 retail outlets nationwide, further stabilizing the downstream petroleum sector.
Dr. Joseph Obele described the partnership as a significant milestone in ensuring a steady fuel supply. “This agreement is a major achievement in our efforts to provide consistent petroleum products to our members and the public.
We are confident this partnership will boost efficiency, affordability, and economic growth,” he concluded.
With this collaboration, Nigerians can look forward to a hassle-free festive season and be assured of a steady and affordable fuel supply across the country.
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