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The Petroleum Products Retail Outlet Owners Association of Nigeria has explained that it members will not hesitate to dump Dangote Refinery for alternatives over its latest move to sale petroleum products in Dollar.
The National President of PETROAN, Billy Gillis-Harry disclosed this to Newsmen on Thursday.
He was reacting to Dangote Refinery’s decision to halt the sales of petroleum products in Naira.
Read Also: NNPC Joins Price Battle, Slashes Petrol Cost To Match Dangote
Speaking on the development, Gillis-Harry said Nigeria’s petroleum downstream market is prepared for uncertainty.
He stressed that if Dangote Refinery’s price template is not competitive following its suspension of petroleum products sales in Naira, retailers and marketers will seek alternatives from Nigerian National Petroleum Company Limited or imported petroleum products.
“The market is making preparations for any surprises. So, if there are surprises, we’ll have alternatives to go to.”
“One of the alternatives is the NNPC. We have also talked about some of the other refineries that are upgrading to 25,000 metric tonnes per day, like the Azikel refinery in Bayelsa. And then, importation is also going to be in the mix.”
The Eatern Updates reports that Dangote Refinery on Wednesday announced the suspension of sales of petroleum products in Naira.
The domestic refinery’s decision comes amid a stalemate in its discussion with NNPC over the continuation of the Naira-for-crude deal. The decision had sparked a fresh petrol hike uncertainty in the oil downstream sector.
The battle for dominance in Nigeria’s fuel market intensified as the Nigerian National Petroleum Company Limited (NNPCL) unveiled a sharp reduction in the price of Premium Motor Spirit (PMS) to N860 per litre, escalating its rivalry with the formidable Dangote Refinery in a contest that promises to reshape the nation’s energy ecocystem.
The Nigerian National Petroleum Company Limited (NNPCL) unveiled its price reduction mere days after Dangote Petroleum Refinery & Petrochemicals disclosed plans to absorb a N16 billion shortfall, offsetting N65 per litre for marketers to deliver more affordable fuel to Nigeria’s populace—a rapid counterstroke in an escalating market duel.
In a declaration released over the weekend of March 1-2, 2025, Dangote outlined its commitment to reimburse consumers who procure Premium Motor Spirit (PMS) at inflated rates exceeding the stipulated tariffs through its principal collaborators—Ardova Plc (AP), Heyden, or MRS—spanning the nation’s fuel distribution network.
