PETROAN Seeks Petrol Price Stability Through Partnerships With Local Refineries

The Petroleum Products Retail Outlets Owners Association of Nigeria, PETROAN, says petrol retailers are seeking stronger partnerships with indigenous refineries to improve supply and bring greater certainty to fuel prices for Nigerian consumers.

PETROAN spokesperson Joseph Obele disclosed this on Tuesday after representatives of the association visited the Azikel domestic refinery.

The association said Nigeria could no longer continue relying heavily on foreign refineries to process crude oil into the petroleum products needed to power the economy.

PETROAN National President Billy Gillis-Harry said the association was interested in building long-term commercial relationships with local refiners rather than focusing only on securing supplies for its members.

“As retailers, we want to build practical partnerships with indigenous refineries that can improve product availability, strengthen supply chains and create greater certainty for businesses and consumers,” Gillis-Harry said.

He said such partnerships should be structured to benefit both refiners and petroleum marketers while creating a more dependable supply chain for consumers.

The development comes amid continuing changes in petrol prices across the country. In Abuja and surrounding areas, motorists are currently reported to be paying between N1,370 and N1,450 per litre, although prices vary among filling stations and locations.

PETROAN’s position also follows recent price adjustments by some filling stations after Dangote Refinery reduced its petrol price by N25 per litre.

The retailers’ association said deeper collaboration with domestic refineries could strengthen product availability and help create greater predictability for businesses and consumers as Nigeria expands its local refining capacity.