The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has commended the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the Nigerian National Petroleum Company (NNPC) Limited, and the Dangote Group for reaching a resolution for oil marketing companies to buy all Dangote Refinery products.
PETROAN, in a statement on Sunday by its National Public Relations Officer (PRO), Dr Joseph Obele, also hailed the leadership of the Major Energies Marketers Association of Nigeria (MEMAN), Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) and Independent Petroleum Marketers Association of Nigeria (IPMAN) for the landmark agreement.
TheFact Daily reports that the resolution includes Dangote Refinery guaranteeing to sell an average of 28,000,000 litres of Premium Motor Spirit (PMS), popularly called petrol, daily for the next six months to oil marketers for domestic consumption in the Nigerian market.
The National President of PETROAN, Dr. Billy Gillis Harry, was quoted by the statement to have expressed optimism that the resolutions will bring succour to the downstream sector and improve the Nigerian economy.
Dr Billy Gillis Harry said the new deal was part of a resolution reached by stakeholders on the absorption of domestic petroleum product production by Nigerian Oil Marketing Companies including the Nigerian National Petroleum Company Ltd.
He added that the resolution will attract so much benefits which includes stability of Petroleum products, control of price fluctuations, Maintaining transparent communication, Addressing conflicts proactively and Fostering collaboration among key stakeholders players.
On his part, the National PRO of PETROAN Dr Joseph Obele said those that signed the resolution includes NMDPRA, NNPCL, Edo Refinery, Dangote Refinery, Waltersmith Refinery, Aradel Refinery, Independent Petroleum Marketers Association of Nigeria and Petroleum Regulatory and Petroleum Products Retail Outlets owners Association of Nigeria.
The document indicates that Aviation Turbine Kerosene and diesel from all domestic refineries would be provided to the NMDPRA for the same period of six months and must be subject to consideration for import as may be required.
Dr Obele noted that the NMDPRA must establish the basis for allocating import volumes to oil marketing companies on the assumptions of the aggregate of domestic refinery capacity with understanding to cover shortfalls for respective marketers.
Dr Obele said based the resolution, the domestic refineries would provide fixed quantities and delivery windows, which must be a period of two months preceding the month of delivery to the customer and NMDPRA.
He added that individual oil marketing companies are to enter direct commercial agreements with domestic refineries on a willing buyer, willing seller basis.
