Retail pump price for premium motor spirit (PMS), popularly called petrol is expected to drop this week, as Dangote Petroleum Refinery has sliced the price of the commodity sold to petroleum products marketers by N20 per litre.
The announcement on the price reduction on Sunday showed that marketers would be allowed to lift petrol from the refinery at N970 per litre as against the previous price of N990 per litre.
“As the year comes to an end, this is our way of appreciating the good people of Nigeria for their unwavering support in making the Refinery a dream come true,” the Dangote Group Chief Branding and Communications Officer, Anthony Chiejina, said in a statement.
“In addition, this is to thank the government for their support, as this will complement the measures put in place to encourage domestic enterprise for our collective weillbeing,” he added.
He assured that while the refinery would not compromise on the quality of its petroleum products, the company would do everything within its capacity to supply consumers the best quality products that are environmentally-friendly and sustainable.
“We are determined to keep ramping up production to meet and surpass our domestic fuel consumption; thus, dispelling any fear of a shortfall in supply,” he said.
Meanwhile, the company had earlier joined the petroleum products retailers’ umbrella body, the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) to resolve on modalities to achieve uninterrupted supply and distribution of petrol in the country.
The resolution involved the downstream petroleum sector regulator, the Nigerian Midstream-Downstream Petroleum Regulatory Authority (NMDPRA), Nigerian National Petroleum Company Limited (NNPC Ltd.), and other stakeholders ro put an end to the perennial crisis in the sector.
Others that were part of the resolution include Major Energies Marketers Association of Nigeria (MEMAN), Depot And Petroleum Products Marketing Association of Nigeria (DAPPMAN), and Independent Petroleum Marketers Association of Nigeria (IPMAN).
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