The Petroleum Products Retail outlets owners Association (PETROAN), has commended the management of Dangote Refinery for amicably reaching a transactional direct sales contract of premium motor spirit (PMS) with the leadership of Independent Petroleum Marketers Association of Nigeria (IPMAN).
PETROAN, in a statement made available to LEADERSHIP in Port Harcourt yesterday by its national public relations officer, Dr. Joseph Obele, said the development indicates a possible reduction in the price of PMS.
The statement stated that the agreement between Dangote Refinery and IPMAN has brought to an end the middleman posture played by the Nigerian National Petroleum Company Limited (NNPC).
It reads in part: “The National Headquarters of Petroleum Products Retail outlets owners Association PETROAN Abuja has commended the Management of Dangote Refinery for amicably reaching a transactional direct sales contract of PMS with the leadership of IPMAN.
“The agreement between IPMAN and Dangote Refinery brings an end to the middleman posture played by the NNPC Ltd.”
The statement said the management of Dangote Refinery, has extended a message to PETROAN national president, Dr. Billy Harry, for a possible strategic business meeting between the indigenous firm and the association in coming days.
It said: “In the same vein, the head of commercial at the Dangote Refinery has sent an email to the national president of PETROAN Dr Billy Harry to anticipate a possible Strategic Business meeting in the coming days. The National President has set up a team of 7 Persons headed by himself that will be representing PETROAN at that Strategic Business meeting.
“At the proposed meeting, we have to emphasised that PETROAN’s primary objective is to provide affordable, high-quality products to consumers, and to do so in compliance with all regulatory standards and industry best practices.
“We hope that the meeting will be a win-win meeting. A win for the general public, A win for Dangote Refinery and a Win for Petroleum Retail outlets owners.
Several factors indicate possible reduction of the PMS price in the coming days.
“One of such factors includes the recent ongoing roundtable conversations with the management of Dangote Refinery and key stakeholders of the sector. Also to mention is the decline in landing costs of PMS on Nigeria’s shores which indicated an equal reduction in global market fluctuations and supply chain factors.”
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