Petrol Station Owners Laud NNPC, Dangote for Slashing Pump Price

They also lauded the implementation of a refund initiative to cushion the impact on marketers.

This is as the NNPC Retail Limited on Monday announced a reduction in its pump price of PMS from N920 to N860 per litre.

Dangote Refinery had earlier brought down the gantry price of PMS from N890 per litre to N825 per litre, a move that PETROAN described as a much-needed relief for Nigerians facing economic hardship.

The private refiner then said it would refund N65 per litre to customers who purchased PMS at the previous higher rate at its partners’ stations.

The initiative will cover over 200,000 metric tonnes of PMS, with Dangote absorbing a N16 billion loss to implement the refunds

Reacting to the development, PETROAN’s National President, Mr Billy Gillis Harry, praised NNPC Retail Ltd for taking proactive steps to support the Nigerian people.

Mr Harry in a statement signed by the National Public Relations Officer of PETROAN, Mr Joseph Obele, noted that the refund initiative will also positively impact retail outlet owners, who will benefit from reduced prices and refunds

“This price reduction is a welcome development at a time when many Nigerians are struggling with inflation and high living costs. It will ease transportation expenses and bring down the cost of essential goods,” the PETROAN National President said in the statement.

“We commend Dangote Refinery for this bold step. Many marketers bought PMS at the old price before the reduction, and this refund will help cushion their losses. This shows a commitment to fair pricing and consumer protection,” he added.

PETROAN further urged Nigerians to remain optimistic, stressing that government reforms in the petroleum sector are starting to yield tangible benefits.