The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has announced that Nigerians can expect a reduction in the pump price of petrol within the week.
Last week, the Nigerian National Petroleum Company (NNPC) Limited and Dangote Refinery lowered the ex-depot price of petrol to ₦899 per litre in Lagos. However, many filling stations are yet to reflect this reduction in their pump prices.
Speaking on the development, Billy Gilly-Harry, PETROAN President, assured Nigerians that the new pricing would soon be implemented. “I believe from today, as members start loading from both NNPC and Dangote at this new price, it will reflect in the market,” he said in an interview on Monday.
He also commended some PETROAN members, especially those in Abuja, who had already reduced their pump prices to below ₦1,000 even before the official announcement.
“We don’t encourage our members to sell at a loss,” Gilly-Harry stated. “Our goal is to serve Nigerians, and to do that sustainably, we must ensure marginal profits to cover operational costs and stay in business. That said, you’ll see the impact of this price reduction in retail outlets hopefully within the week.”
The announcement brings hope to Nigerians, who are keen to see the new prices reflected nationwide.
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