The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has rejected calls by civil servants for President Bola Tinubu to reduce the price of petrol to N500 per litre.
PETROAN National President, Billy Gillis-Harry, said the demand does not reflect the current realities of Nigeria’s downstream petroleum market and that achieving such a price would require a “miracle.”
Speaking to DAILY POST on Monday, Gillis-Harry warned against returning to the era of fuel subsidies, arguing that the policy placed significant pressure on the country’s finances.
He challenged those calling for N500 petrol to establish their own refineries, logistics systems and filling stations if they believed the product could realistically be sold at that price.
The comments came as the Federal Government, through the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), engaged oil and gas stakeholders on competitive fuel pricing.
Meanwhile, Dangote Refinery recently reduced its petrol price by N25 per litre, bringing it down to N1,325 per litre, following the decline in global crude oil prices.
