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Home Business & Finance

Fuel Scarcity Drama Averted? PETROAN Strikes a Deal with Dangote Refinery

Eriki Joan UgunushebyEriki Joan Ugunushe
December 6, 2024
in Business & Finance
0
Fuel Scarcity Drama Averted? PETROAN Strikes a Deal with Dangote Refinery
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The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) is promising Nigerians a festive season free from the dreaded fuel scarcity, thanks to a new partnership with Dangote Refinery and Petrochemicals.

In a statement released by PETROAN’s National Public Relations Officer, Dr. Joseph Obele, the association announced its “strategic alliance” with Dangote Refinery after a business meeting held earlier in the week at the refinery’s Lagos complex. The meeting, spearheaded by PETROAN’s National President, Dr. Billy Gillis-Harry, was tagged as a groundbreaking move to prevent fuel shortages nationwide. But isn’t this the same tune Nigerians have heard for decades?

“PETROAN National President commended the Vice President of Dangote Group & Managing Director of Dangote Refinery, Mr. Devakumar V. G. Edwin, for his cooperation and strategies deployed so far to make petroleum products available to all Nigerians throughout the end-of-year festivities and beyond,” the statement read. Commended? Sure. But where is the accountability? Nigerians have seen endless commendations with little to show for it.

The deal reportedly involves a seller-buyer arrangement with Dangote Refinery, monthly volume reservations for PETROAN, favorable payment terms, and competitive pricing. Of course, the “business terms and conditions” are being kept under wraps.

PETROAN confidently declared that production at the Port Harcourt refinery, combined with the Dangote Refinery agreement, will avert any dreaded shortages. They also dismissed fears of fuel scarcity, urging Nigerians to avoid panic buying. “We caution against panic buying as it is unsafe and dangerous to stock petroleum products at home,” they warned. Admirable advice, but Nigerians might argue that their panic isn’t baseless it’s born from years of being left stranded at the pumps.

The statement added that all PETROAN retail outlets across Nigeria are on “green alert” to ensure uninterrupted service. “We hereby reassure Nigerians of PETROAN’s preparedness to ensure zero-scarcity of petroleum products during the upcoming festive season and beyond,” it concluded. Zero-scarcity? That’s a bold promise in a country where fuel crises are practically a national tradition.

While PETROAN urges calm and optimism, many Nigerians remain skeptical. The partnership with Dangote Refinery might be a step in the right direction, but can it undo decades of inefficiency in the downstream sector?

If PETROAN delivers on its promises, it will be a refreshing break from the norm. If not, well, Nigerians are no strangers to disappointment.

Tags: dangotefederal characterfuel scarcityFuel Scarcity Drama Averted? PETROAN Strikes a Deal with Dangote RefineryNewsPetroanrefinery
Eriki Joan Ugunushe

Eriki Joan Ugunushe

Eriki Joan Ugunushe is a dedicated news writer and an aspiring entertainment and media lawyer. Graduated from the University of Ibadan, she combines her legal acumen with a passion for writing to craft compelling news stories.Eriki's commitment to effective communication shines through her participation in the Jobberman soft skills training, where she honed her abilities to overcome communication barriers, embrace the email culture, and provide and receive constructive feedback. She has also nurtured her creativity skills, understanding how creativity fosters critical thinking—a valuable asset in both writing and law.

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