Fuel price: Build your refinery – PETROAN to Nigerian workers demanding N500/litre petrol

The Petroleum Products Retail Outlets Owners Association of Nigeria, PETROAN, has reacted to the demand by civil servants under the Joint National Public Service Negotiating Council for President Bola Ahmed Tinubu to reduce the price of petrol to N500 per litre.

In an interview with DAILY POST on Monday, the National President of PETROAN, Billy Gillis-Harry, said reducing the price of petrol to N500 per litre would require a miracle.

According to him, the demand does not reflect the current realities of the downstream petroleum market, making it practically impossible to reduce the price of petrol to N500 per litre.

He noted that Nigerians and the Federal Government cannot risk returning to the era of fuel subsidies, which, according to him, pushed the country to the brink.

Gillis-Harry added that those advocating for petrol to be sold at N500 per litre should build their own refineries and filling stations to dispense the product at that price. “Those demanding N500 per litre fuel should go and build their refinery, get their logistics and get their retail outlets to sell at N500 per litre,” he said.

His comments came as the Federal Government, through the Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, meets with oil and gas stakeholders over competitive fuel pricing.

Earlier, Dangote Refinery reduced its petrol price by N25 per litre to N1,325 per litre following a drop in crude oil prices.