Yuletide: Petroleum retailers, Dangote refinery seal PMS supply deal

The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) says it has finalised an agreement with Dangote Refinery for the supply of Premium Motor Spirit (PMS) for the upcoming Christmas and New Year celebrations.

Dr. Joseph Obele, National PRO, PETROAN, made this known in a statement on Friday.

Obele said the National President of PETROAN, Dr. Billy Hary, on Dec. 2, 2024, led the negotiation team of PETROAN to a fruitful strategic business meeting with the management of Dangote Refinery at the complex in Lagos.

He said the deal sealed with Dangote Refinery was the aftermath of a successful buyer-seller negotiation and agreement secured by PETROAN at the strategic meeting.

He expressed confidence that the measures put in place by PETROAN, following the Port Harcourt refinery’s production and agreement with the Dangote Refinery, will avert fuel supply shortages during the Yuletide.

Obele said the assurance was due to the efforts of its distribution technical committee in charge of planning and execution of the zero-fuel scarcity strategy.

He expressed satisfaction with the outcome of the strategic business meeting, which resulted in the establishment of a seller/buyer relationship, reservation of monthly volume for PETROAN, payment modalities, and a favourable rate.

“We are happy that Nigerians are going to travel effortlessly during this period of the year.

“PETROAN national president commended the Vice President of the Dangote Group & Managing Director of the Dangote Refinery, Devakumar Edwin, for his cooperation and strategies deployed to make petroleum products available to all Nigerians.

“We reserved the right not to make public the business terms and conditions, even as we express optimism that the greatest beneficiaries in all shall be the general public as it concerns product availability and affordability.

“PETROAN dismisses any form of fuel scarcity concerns, cautioning against panic buying as it is unsafe and dangerous to stock petroleum products at home.

“PETROAN also calls on stakeholders in the downstream sector to support the management of NNPC Retail Ltd. and Dangote Refinery to sustain petroleum products supply,” he said.

He reassured Nigerians of PETROAN’s preparedness to ensure zero scarcity of petroleum products during the upcoming festive season and beyond.

Obele said that the association’s retail outlet operators nationwide had been placed on green alert for service.