The Petroleum Products Retail Outlet Owners Association of Nigeria has announced a strategic partnership with Dangote Refinery and Petrochemicals to ensure the availability of Premium Motor Spirit during the yuletide season and beyond.
In a press statement issued on Friday in Abuja by PETROAN’s National Public Relations Officer, Joseph Obele, the association revealed that its National President, Billy Gillis-Harry, led a negotiation team to a fruitful business meeting with Dangote Refinery’s management on December 2, 2024, at the refinery complex in Lagos.
The statement commended the efforts of Dangote Refinery’s Vice President and Managing Director, Devakumar Edwin.
It reads, “The PETROAN National President commended the Vice President of Dangote Group & Managing Director of Dangote Refinery, Mr. Devakumar V. G. Edwin, for his cooperation and strategies deployed so far to make petroleum products available to all Nigerians throughout the end-of-year festivities and beyond.”
PETROAN confirmed that a transactional agreement was reached after successful buyer-seller negotiations, ensuring a steady fuel supply for its members.
While the business terms were not disclosed, PETROAN assured the public of the benefits.
“We reserve the right not to make public the business terms and conditions, even as we express optimism that the greatest beneficiaries in all shall be the general public as it concerns product availability and affordability,” the statement said.
Highlighting the agreement’s details, the statement noted the establishment of a buyer-seller relationship, reserved monthly fuel volumes for PETROAN, favorable payment modalities, and competitive pricing.
The association expressed confidence in its strategies to prevent fuel shortages, bolstered by Dangote Refinery’s production and ongoing efforts at the Port Harcourt refinery.
PETROAN said, “The measures put in place by the association following the commencement of production at the Port Harcourt refinery and fruitful deliberations with the management of Dangote Refinery will definitely avert fuel supply shortages during and after the festive season.”
The statement also dismissed concerns about fuel scarcity and cautioned against panic buying. “PETROAN dismisses any form of fuel scarcity concerns, caution against panic buying as it is unsafe and dangerous to stock petroleum products at home,” it stated.
Furthermore, PETROAN called on stakeholders in the downstream sector to support the efforts of NNPC Retail Ltd and Dangote Refinery in sustaining petroleum product supplies.
The association stated: “We hereby reassure Nigerians of PETROAN’s preparedness to ensure zero-scarcity of petroleum products during the upcoming festive season and beyond as all our retail outlets operators in all the states in Nigeria have been placed on green alert for service.”
This collaboration aims to provide Nigerians with uninterrupted fuel availability, enabling hassle-free travel during the holidays.
