The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has announced plans to enter into direct purchase agreements with three Nigerian refineries.
This information was shared in a notice on Tuesday, signed by PETROAN’s National President, Billy Gillis-Harry, and Secretary, Adedibu Aderibegbe.
The notice indicated that the agreements are set to commence on Wednesday, aimed at providing affordable petroleum products to Nigerians across the country.
“It is to inform you that PETROAN will be signing a Sales Purchase Agreement (SPA) with Allegiance Energy and Power Limited, a Refined Petroleum Products Offtake and Sales Agreement with Claridge Petroleum Company Limited, and a Sales Purchase Agreement (SPA) with Oasis Petrochemical Products Limited,” the notice read.
In its New Year message, PETROAN suggested that petrol prices could decrease further in 2025.
As 2024 drew to a close, both Dangote Refinery and the Nigerian National Petroleum Company Limited revealed a reduction in retail petrol prices, bringing them down to N935 and N965 per litre, respectively.
