KEY POINTS

• Petrol Price cut to N899.50 per litre – Dangote.
• Nigerians welcome the reduction as a timely relief, PETROAN said.
• The extra liter of petrol, offered on credit by Dangote, is among the ones most sought after by filling stations.

Petroleum Products Retail Outlets Owners Association of Nigeria, PETROAN, has commended Dangote refinery for bringing petrol price down to N899.50K per litre.

The downward adjustment of this price, from N970 per litre as before, is described as a timely intervention for Nigerians.

PETROAN spokesman Joseph Obele added that the N71 reduction will help Nigerians fight the festive season financial battle, most especially on the roads. He says this will be a great relief as the cost of living continues to rise.

PETROAN said this price reduction, a N71 per litre slash from the initial N970 price per litre, will be a huge relief for motorists and Nigerians at large at this period of the year, especially during the holiday season.

PETROAN President Billy Gillis Harry said the price cut helps reduce living costs at this time of the year occasioned by Christmas and New Year celebrations. He added that transporting of the commuter would also be less costly than it is currently, giving commuters some reprieve.

Consumers benefit from extra from Dangote

‘Aside the reduction price, consumers can receive 1 extra litre of petrol on credit for every litre purchase in cash,’ Dangote Refinery announced. This is an incentive, backed by Access Bank, First Bank and Zenith Bank guarantees, to offer more support during this holiday period.

Dangote Spokesman Anthony Chiejina pointed out many Nigerians are looking at the company to reduce the cost of transportation. The refinery’s new price structure and supporting added credit, he said, are part of a ‘broader strategy’ to back households and businesses.

This is the second time Dangote would cut down the price of the product, days after reducing petrol price from N995 per litre to N970 per litre in November. Its recent move to N899.50K per litre from N888.00K per litter further shows the refinery’s determination to help consumers in the face of difficult economic times.