The Renewed Hope Ambassadors Network (RHAN) has commended Dangote Refinery for its proactive role in enhancing the economic transformation policies of the Bola Ahmed Tinubu administration.
The group said that the refinery's bulk-purchase agreement incentives have attracted more oil marketers, seeking to benefit from guaranteed price stability and a steady supply of petroleum products.
According to a statement signed by its secretary-general, Dr. Opialu F. Opialu, this strategic move is poised to further stabilise the nation's fuel market and enhance energy security for consumers.
Opialu said the partnership between Dangote Refinery, Ardova Plc, and Heyden Petroleum has already yielded positive results, with MRS Oil Nigeria Plc lowering its fuel prices to N935 per litre across all its stations nationwide.
He said the reduction in fuel prices has brought relief to Nigerians, who have been grappling with the challenges of high fuel prices.
Opialu said the benefits of the bulk-purchase agreement are far-reaching, as it ensures that marketers can purchase petroleum products at a fixed price, reducing the risk of price fluctuations.
By providing a stable and affordable supply of fuel products, he added that the refinery is helping to alleviate the recurring issue of fuel scarcity, promote economic growth, and enhance the overall quality of life for Nigerians.
According to him, the impact of this agreement will be felt across various sectors, including transportation, manufacturing, and agriculture, as reduced fuel prices will lead to lower production costs and increased economic activity.
"The Renewed Hope Ambassadors Network (RHAN) commends Dangote Refinery for its proactive role in enhancing the economic transformation policies of the Bola Ahmed Tinubu administration," the statement released in Abuja on Friday said.
"The refinery's bulk-purchase agreement incentives have attracted more oil marketers, seeking to benefit from guaranteed price stability and a steady supply of petroleum products. This strategic move is poised to further stabilize the nation's fuel market and enhance energy security for consumers.
"The partnership between Dangote Refinery, Ardova Plc and Heyden Petroleum has already yielded positive results, with MRS Oil Nigeria Plc lowering its fuel prices to N935 per litre across all its stations nationwide.
"This reduction in fuel prices has brought relief to Nigerians, who have been grappling with the challenges of high fuel prices. The benefits of the bulk-purchase agreement are far-reaching, as it ensures that marketers can purchase petroleum products at a fixed price, reducing the risk of price fluctuations.
"By providing a stable and affordable supply of fuel products, the refinery is helping to alleviate the recurring issue of fuel scarcity, promote economic growth, and enhance the overall quality of life for Nigerians.
"The impact of this agreement will be felt across various sectors, including transportation, manufacturing, and agriculture, as reduced fuel prices will lead to lower production costs and increased economic activity.
"The agreement also ensures a consistent supply of petroleum products, which will help to reduce the stress and hardship associated with fuel scarcity. Additionally, the refinery's commitment to providing refined products at competitive prices will benefit consumers across the country, as they will have access to affordable fuel prices. This, in turn, will help to stimulate economic growth, create jobs, and reduce poverty."
The RHAN believes that the Dangote Refinery's bulk-purchase agreement is a game-changer for Nigeria's oil and gas sector and urged the company to sustain its efforts in providing affordable and stable fuel prices while exploring more innovative solutions that will further enhance the nation's energy security and promote economic development.
The group, however, called on other stakeholders in the oil and gas sector to emulate Dangote Refinery's proactive approach to create a more competitive and vibrant oil and gas sector that benefits all Nigerians.
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