Petroleum Products Retail Outlets Owners Association of Nigeria, PETROAN, has announced that it will sign a direct purchase agreement with three Nigerian refineries.
This was disclosed in a notice on Tuesday signed by the National President of PETROAN, Billy Gillis-Harry, and the Secretary, Adedibu Aderibegbe.
According to the notice, the agreement is expected to kick off on Wednesday to ensure affordable petroleum products for Nigerians nationwide.
“This 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, a Sales Purchase Agreement (SPA) with Oasis Petrochemical Products Limited, respectively,” the notice stated.
This comes as PETROAN in its New Year message hinted that prices of petrol may reduce further in 2025.
Newspot reports that towards the end of 2024, Dangote Refinery and Nigerian National Petroleum Company Limited announced a reduction in retail petrol price to N935 and N965 per litre, respectively.
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