Retailers, Dangote Refinery Seal PMS Supply Deal For Year-end Festivities

The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) said it has finalised a significant agreement With the Dangote Refinery for the supply Premium Motor Spirit (PMS), commonly known as petrol, for the upcoming Christmas and New Year celebrations.

The national headquarters of PETROAN who made this known in Abuja on Friday, expressed confidence that the measures put in place by the Association following the commencement of production at the Port Harcourt Refinery and fruitful deliberations with the management of Dangote Refinery, will definitely avert fuel supply shortages during and after the festive season.

The association, in a statement signed by its national PRO, Dr Joseph Obele, said the assurance was due to the efforts of its distribution technical committee in charge of planning and execution of zero-fuel scarcity strategy. “We are happy that Nigerians are going to travel effortlessly during this period of the year,” it said.

According to PETROAN, the national president of the Association, Dr Billy Gillis Hary, on Monday, December 2, 2024, led the negotiation team of PETROAN to a fruitful strategic business meeting with the management of Dangote Refinery at the its office complex in Lagos.

“The sealing of a transactionary deal with Dangote Refinery was the aftermath of a successfully buyer-seller negotiation and agreement secured by PETROAN at the strategic meeting.

“PETROAN national president commended the vice president of Dangote group & managing director of Dangote Refinery, Devakumar Edwin, for his cooperation and strategies deployed so far to make petroleum products available to all Nigerians throughout the end of year festivities and beyond,” Obele added.

The association also expressed satisfaction with the outcome of the strategic business meeting, which resulted in the establishment of Seller/Buyer relationship, reservation of monthly volume for PETROAN, payment modalities and a favourable rate.

“We reserved the right not to make public the business terms and conditions , even as we express optimism that the greatest beneficiaries in all shall be the general public as it concerns product availability and affordability.

“PETROAN dismisses any form of fuel scarcity concerns, caution against panic buying as it is unsafe and dangerous to stock Petroleum products at home.

“PETROAN also call on stakeholders in the downstream sector to support the Management of NNPC Retail Ltd and Dangote Refinery to sustain petroleum products supply.

“We hereby reassure Nigerians of PETROAN’s preparedness to ensure zero-scarcity of petroleum products during the upcoming festive season and beyond as all our retail outlets operators in all the states in Nigeria have been placed on green alert for service,” it stated.