Together, they form the remnants of the subsidy cartel, the parasites who once crippled Nigeria’s economy with fuel importation fraud and union-backed extortion.
Browsing: PETROAN
The National President of PETROAN, Dr. Billy Gillis-Harry, made this known to newsmen in a statement he issued to them on Sunday.
The association cautioned that it could lead to a monopoly in disguise.
The News Agency of Nigeria reports consumers have been experiencing acute scarcity of HHK, otherwise called kerosene, amid exorbitant prices.
Brent and WTI are poised to register weekly declines of 3.5 percent and three percent respectively, having both lost about 11 percent last week.
PETROAN said the bold move by the NNPC was expected to alleviate the financial burden on Nigerians amidst rising inflation.
It said this following its face-off with the Nigerian Midstream and Downstream Petroleum Regulatory Authority over bridging claims.
Billy Gillis-Harris, president of PETROAN, made this known during an interview on Arise TV on Saturday.
PETROAN confirmed the development in a statement on Saturday, days after Dangote Refinery reduced its price also to N899 per litre.
So also did PETROAN say the price of petrol it plans to import will be cheaper than the current rate the product is sold in the country.
Esele told a correspondent of the News Agency of Nigeria in Benin, Edo State on Saturday that PETROAN had no right to increase petrol pump price unilaterally.