PETROAN cautions Nigerians against panic buying

The Petroleum Products Retail Outlets Owners Association of Nigeria, PETROAN, has cautioned Nigerians against panic buying amid uncertainty over the continuation of the naira-for-crude sale deal between Dangote Refinery and the Nigerian National Petroleum Company Limited, NNPCL

The spokesperson of PETROAN, Joseph Obele, made this known in a statement on Tuesday.

This comes amid concerns over panic buying of petroleum products by motorists in recent days following Dangote Refinery’s announcement on Wednesday that it was suspending the sale of petroleum products in naira.

Reacting to the development, PETROAN stated that Dangote Refinery’s decision to halt sales in naira should not trigger panic buying, as the country relies on other refineries and imports.

The association also urged the federal government to continue its naira-for-crude deal with Dangote Refinery.