The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) has warned that its members may abandon Dangote Refinery for alternative sources following its decision to sell petroleum products exclusively in dollars.
Speaking to newsmen on Thursday, PETROAN’s National President, Billy Gillis-Harry, criticized the move, emphasizing that Nigeria’s downstream petroleum market is prepared for any disruptions.
He stated that if Dangote Refinery’s pricing becomes uncompetitive due to the shift away from Naira sales, retailers and marketers would explore alternatives such as the Nigerian National Petroleum Company Limited (NNPC) or imported petroleum products.
“The market is making preparations for any surprises. So, if there are surprises, we’ll have alternatives to go to,” Gillis-Harry said.
He highlighted possible options, including NNPC, the Azikel refinery in Bayelsa—which is upgrading to 25,000 metric tonnes per day—and fuel importation.
Dangote Refinery announced on Wednesday that it would no longer sell petroleum products in Naira, following unresolved negotiations with NNPC over the Naira-for-crude arrangement.
The decision by Dangote Refinery has raised concerns about a potential hike in petrol prices, adding further uncertainty to Nigeria’s downstream oil sector.
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cc: Daily Post Ng
