PETROAN Disavows Role In Fuel Price Setting – Urges Accountability

PETROAN Disavows Role In Fuel Price Setting – Urges Accountability

Dr. Joseph Obele, the National Public Relations Officer of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), has firmly denied claims that oil marketers are involved in setting fuel prices in Nigeria. In a recent radio….PETROAN Disavows Role In Fuel Price Setting – Urges Accountability

interview monitored by Nigerian Tribune in Abuja, Dr. Obele assured the public that PETROAN does not partake in any scheme aimed at manipulating fuel prices, maintaining that transparency is key in ensuring fair pricing.

He highlighted that for the first time, Nigerians have access to the actual costs of fuel being supplied by both the Nigerian National Petroleum Company Limited (NNPCL) and the Dangote Refinery. This revelation, he said, has sparked a competitive price environment, leading to reduced prices at various retail outlets across the country.

Obele further explained that with the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) providing accurate fuel consumption data, the era of fuel scarcity is over. However, affordability remains a challenge, as many retail outlet owners are struggling to manage declining sales.

“The public is now aware of how much fuel we are purchasing from Dangote Refinery and NNPCL. Unfortunately, with high fuel costs, many Nigerians are struggling to afford it, and this impacts our business operations. Sales are dropping significantly, and many of us are laying off staff to stay afloat,” he said.

With the addition of Dangote and BUA Refineries, Nigeria is set to have a surplus of refined products, offering hope for a more stable fuel supply in the future.

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