PETROAN suggests transport subsidy to ease high fuel costs
The National President of the Petroleum Products Retail Outlets Owners Association of Nigeria, Billy Gillis-Harry, has proposed a transport subsidy to help Nigerians cope with rising fuel prices. He highlighted the impact of global oil market fluctuations and the recent increase in the price of Premium Motor Spirit by the Dangote Petroleum Refinery. Aliko Dangote also met with Bola Ahmed Tinubu to discuss the implications of the volatile oil market. Industry leaders emphasized the need for solutions such as expanding gas infrastructure and supporting alternative fuels.
What we know
- Billy Gillis-Harry called for a transport subsidy to cushion the effects of soaring fuel prices on Nigerians, especially commercial transport owners.
- The Dangote Petroleum Refinery increased the price of Premium Motor Spirit from N1,175 to N1,245 per litre, citing global market conditions.
- Aliko Dangote met with Bola Ahmed Tinubu to discuss the impact of the ongoing conflict in the Middle East on Nigeria's economy.
- PETROAN is working with the government to expand gas infrastructure and promote alternatives like CNG and electric vehicles.
- Gillis-Harry dismissed claims that marketers are exploiting consumers, stating that profit margins remain low and efforts are focused on ensuring fuel availability.
