On Friday, November 29, Billy Gillis-Harry, the President of the Petroleum Products Retail Outlet Owners Association (PETROAN), revealed that the Nigerian National Petroleum Company Limited (NNPCL) plans to reduce the price of Premium Motor Spirit (PMS), also known as petrol, from N1030 per litre in the coming days.
Speaking at a strategic meeting in Abuja, Gillis-Harry emphasized that PETROAN’s goal is to ensure Nigerians receive quality petroleum products at affordable prices across the country. “One of the great things that has come out in the last few days is that PETROAN was able to make its case to ensure that a petroleum product is received at a cheaper price,” he stated.
The price of petrol has already been reduced to N1030 per litre, but PETROAN is continuing to push for even lower prices. “We are still hoping and pushing that it will still come down,” he added. He also highlighted the importance of boosting in-country refining capacity, stating that PETROAN is advocating for the use of the naira for crude oil to improve domestic refining.
Gillis-Harry assured Nigerians that the petrol trucked out from the Port Harcourt Refinery on Tuesday was freshly refined and of high quality. He also stressed that refineries like Port Harcourt and Dangote, along with other emerging refineries, would play a key role in ensuring energy security for the country.
“We are working hard to make sure that we take the product from there, and ultimately, the prices from NNPC will be lower than what we are seeing today,” he said. PETROAN is committed to pushing for further price reductions, with a focus on energy security.
The announcement came just days after Dangote Refinery reduced its ex-depot price to N970 per litre, further intensifying discussions around the state of Nigeria’s refinery operations.
In an update, PETROAN confirmed that the current ex-depot price of Port Harcourt’s petrol is N1030 per litre, with plans to lower it soon. This follows the recent commencement of crude oil processing and petroleum product truckout at the Port Harcourt Refinery earlier in the week.
