The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has finalised an agreement with the Dangote Petroleum Refinery to directly lift petroleum products for distribution to depots and retail outlets nationwide.

Joseph Obele, the National Public Relations Officer of PETROAN, confirmed the agreement in a statement, Punch reports.

Obele explained that the deal sealed with Dangote Refinery was the aftermath of successful buyer-seller negotiation and agreement secured by PETROAN at the strategic meeting, the Nation reports.

The statement reads: “The National President of PETROAN, Dr. Billy Gillis-Harry, on December 2, 2024, led our negotiation team to a fruitful strategic business meeting with the Dangote refinery management."

He, however, did not disclose the details of the agreement but expressed confidence that the measures put in place by PETROAN will ensure fuel supply during the Yuletide.

The statement added: "We reserve the right not to make public the business terms and conditions, even as we express optimism that the greatest beneficiaries in all shall be the general public as it concerns product availability and affordability.”