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 on Thursday.
He was reacting to Dangote Refinery’s decision to halt the sales of petroleum products in Naira.
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.”
VAM News reports that Dangote Refinery on Wednesday announced the suspension of sales of petroleum products in Naira.
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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.
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