The President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Billy Gillis-Harry, has expressed optimism that the association is on the verge of securing a supply deal with the Dangote Refinery. In a recent statement, Gillis-Harry revealed that PETROAN had been asked to resubmit their proposal to obtain petrol from Dangote, signaling progress in ongoing discussions between the two parties.
He emphasized that market conditions could potentially drive down petrol prices, stating, “The price can be knocked down to N700 per litre; it depends on the volatility of the market, and this does not always mean upward prices. It could also mean prices coming down.”
According to Gillis-Harry, PETROAN has been in active communication with Dangote and has submitted several proposals to the refinery in the past. “We have written to them several times, and they are fully aware of what PETROAN has been doing. One of the executive directors at Dangote recently called me, informing us that a meeting would be set up soon. We are now awaiting confirmation and hope it happens this week.”
He further explained that PETROAN is open to acquiring petroleum products from a variety of sources, including the Nigerian National Petroleum Corporation (NNPC), traders, importers, modular refineries, and Dangote. “We are in pursuit of a diversified supply chain to ensure product availability. Although we haven’t received a formal confirmation for the meeting with Dangote, we have been requested to resend our proposal, which we have already done.”
Gillis-Harry described this development as a “positive response” compared to earlier instances when the refinery had remained silent. He expressed confidence that PETROAN members would soon begin lifting products from the Dangote Refinery, which he believes is good news for both the association and the Nigerian market.
He also highlighted the potential impact of increased supply on fuel prices, stating that, “If we have massive supply and there is a lot of product in Nigeria, obviously everyone will be competing for minimal profits. Our business is focused on turnover, so people may reduce prices accordingly.”
The PETROAN President remains hopeful that the refinery’s involvement in product distribution will lead to more competitive pricing in the market, potentially offering relief to consumers grappling with fluctuating fuel prices.
