Rivers State Chapter of Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has ordered owners of filling stations in the State to reduce price of fuel pump by 5 naira.  Oil retailers within Rivers are expected to comply from Monday 14th of December, 2020. In a media chat with journalists in Port Harcourt on Wednesday 9th of December, 2020, the Rivers State Chairman of PETROAN, Francis Dimkpa disclosed the association’s latest directive concurs with the agreement reached between the Organised Labour and the Federal Government of Nigeria. A meeting between the Federal Government and organised labour resolved that the pump price of Premium Motor Spirit (PMS) be reduced from 168 naira to 162.44 naira per/litre, commencing from December 14, 2020. Dimkpa said “PETROAN welcomes the reduction in price as a result of the agreement between the Federal Government and the Organised Labour and we are looking forward to its implementation from Monday,14 December, 2020.” He added that “By this, we are encouraging all members of Petroleum Products Retail Outlets Owners Association of Nigeria to key into the government and labour agreement of reduction in price come 14th December, 2020 and effect the reduction as expected.” The new slash in price was a product of a joint committee of Nigerian National Petroleum Corporation (NNPC) and labour representatives who addressed ways of cutting costs.

Source: https://oilandgasgoodness.com/post/oil-retailers-mandated-to-comply-with-new-price

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