The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has lauded the Dangote Refinery as “our salvation,” emphasizing that Nigeria stands to gain significantly if the facility supplies “100 per cent” of domestically consumed petrol.
Speaking on Channels Television on Wednesday, PETROAN President Billy Gillis-Harry highlighted the refinery’s critical role amid escalating tensions in the Middle East.
“As I said, let us be grateful first to God and Dangote for taking the investment foresight by establishing the Dangote Refinery. Given the current war, I don’t know what we would be doing today in Nigeria if we did not have that facility,” Gillis-Harry said.
He noted that fuel marketers are now sourcing all products directly from the refinery.
“Right now, marketers source all of our products from Dangote Refinery. Whether we are going to buy from depots that have not started selling to us in a very long time, we expect that with effective stakeholders’ collaboration, the Dangote Refinery’s objectives will be met. If Dangote has to have 100 per cent of the domestic retail outlets, it is only for the benefit of Nigeria,” he added.
Gillis-Harry explained that while alternative sources were previously necessary, ongoing geopolitical tensions have made petrol importation largely impossible.
“While we were relying on other sources a couple of months ago, today that is not the case, especially with the war raging, making imports completely impossible until there is a resolution. So, we are taking our products from Dangote, whether it’s 50 per cent or 100 per cent. Our main concern is ensuring that we supply products to end-users, which supports economic growth daily,” he said.
On the issue of price fluctuations, the PETROAN president acknowledged market dynamics as the primary driver:
“For pricing, we are aware that the market situation determines prices, and we have always said that prices will never be static. They will fluctuate up or down. Hopefully, the recent reduction of ₦100 per litre by Dangote Refinery will reflect at the pump as soon as new products are delivered,” he said.
The remarks come as Nigeria grapples with volatile petrol prices influenced by global crude trends and the ongoing Middle East crisis. Brent crude briefly exceeded $100 per barrel before dropping to around $88 per barrel on Tuesday. Domestic filling stations have adjusted pump prices to between ₦1,200 and ₦1,300 per litre, despite a ₦100 reduction in gantry price by the Dangote Refinery.
Gillis-Harry’s comments underscore the strategic importance of the Dangote Refinery in reducing Nigeria’s reliance on fuel imports and stabilizing the domestic petrol market.
