The National President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Billy Gillis-Harry, has assured Nigerians that fuel supply remains a top priority for retail outlets, despite rising prices of fuel in Nigeria.
He said this while speaking with ARISE NEWS on Monday.
“From our end as retail outlet owners, we are focused mostly on ensuring that petroleum product availability is top on our agenda. And we are getting that product from Dangote Refinery. So far, we haven’t gotten any disappointments as to getting products from there,” he said.
Speaking on the price of petrol, Billy Gillis-Harry noted that retail outlets have no control over pricing.
“As for the pricing, that is completely not within our purview because, first, you already can tell that the price of restocking crude oil, which is the feedstock for the refining of refined products, is just going off the roof.”
Adding, Gillis-Harry stressed that retail outlets do not profit from rising fuel prices.
“Well, first of all, let me disappoint you that we are not smiling to the bank. Every time prices change, it’s a major challenge for us as retail outlet owners on ensuring that we’re able to meet up even with the conditions to be able to lift the next product,” he explained.
He further called for the establishment of a domestic energy bank to provide quick, affordable funding for retailers.
“In my opinion, what government can do is to be able to help us to, first of all—we had earlier called in the day for an energy bank—a domestic energy bank of Nigeria to be established. That should be able to help in ensuring that we are able to access funds as quickly as possible at rates that should be able to help us to take the product out and ensure that we have products that are affordable also,” he said.
Highlighting solutions for easing fuel burdens, the PETROAN National President called on Nigeria to fast-track gasification projects.
“This gasification process of Nigeria should now begin in real earnest because that is a very strong source of alternative energy that can help us as a country,” he noted.
On how to shield Nigerians from fuel price shocks, Gillis-Harry suggested that federal and state governments invest in licensed strategic petroleum reserves.
“But what I think that government can do, actually, is to invest in ensuring that there is petroleum product kept in reserve. And this can be done not just only by the federal government or NNPC; it can be done even by state governments. Different states can set up storage facilities that are safe and licensed by NMDPRA to be able to hold products for their states. And that is going to do quite a lot in ensuring that petroleum product—even when there is a rise in price because of that strategic reserve—can impact—the pricing will not impact negatively on the pockets of Nigerians,” he explained.
He added that PETROAN is ready to collaborate with authorities to ensure fuel remains both available and affordable.
“We in PETROAN are willing to work with any state government, any regional block, or the federal government to ensure that we’re able to give support to making petroleum product available and also affordable,” he pledged.
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