The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has reaffirmed its commitment to importing premium motor spirit (petrol) at a lower price than the current rate in the country.
In a statement, PETROAN’s National Public Relations Officer, Joseph Obele, emphasized the importance of competition in a deregulated environment, citing benefits for consumers.
Key Points:
- Cheaper Petrol: PETROAN plans to import high-quality petrol at a lower price than the current rate.
- Competition Encouraged: The group advocates for competition to ensure best value for consumers.
- Dangote Refinery Claims Disputed: PETROAN rejects allegations of importing substandard products.
- Import Plans: The group aims to enter the market before December 2024, pending regulatory approval.
PETROAN’s Response to Dangote Refinery
Obele described Dangote Refinery’s claims as “not surprising,” stating that PETROAN never compared prices since Dangote’s rates were unknown until the press release.
Call for Refinery Privatization
PETROAN urged the government to complete the Port Harcourt and Warri refineries’ rehabilitation and privatize them, handing them over to companies with technical capacity.
Privatization Model
The group suggested using the Indorama Petrochemicals model for transparent privatization, rather than Maintenance Repairs and Operations (MRO) contracts.
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