WorldStage– The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has urged the Federal Government of Nigeria to prioritize reviving the nation’s ailing state-owned refineries to break the current market monopoly, drive down surging fuel prices, and safeguard the country’s energy security.
Speaking in response to President Bola Tinubu’s Independence Day address, PETROAN National President Dr. Billy Gillis-Harry emphasized that the government’s envisioned “age of prosperity” will remain a mirage unless life is breathed back into public refining assets.
The association is urging the presidency to compel the Nigerian National Petroleum Company Limited (NNPCL) to fully restore commercial operations at the strategic Port Harcourt, Warri, and Kaduna refineries before the January 2027 election cycle.
The call comes amid deep frustrations over the country’s downstream petroleum sector which despite successive administrations spending upwards of $4 billion on turnaround maintenance and rehabilitation contracts, the public refineries have largely remained idle, extending Nigeria’s dependence on imported fuel and volatile foreign exchange markets.
PETROAN’s National Public Relations Officer, Dr. Joseph Obele, stated that maximizing domestic refining capacity is the only logical and immediate approach to mitigating the inflationary pressures squeezing citizens and businesses.
Rather than celebrating ceremonial restarts, PETROAN is demanding strict accountability from the NNPCL regarding its latest technical equity partnerships.
The association insists that any agreements with third-party operators must feature legally binding completion deadlines, guaranteed throughput targets, and strict financial penalties for non-performance.
Market retailers stress that relying on a single private supplier leaves the national economy highly vulnerable to price manipulation and supply shocks.
“Markets built around a single dominant supplier are markets built on borrowed stability,” Gillis-Harry warned, framing the revival of public plants as a structural necessity rather than a temporary emergency intervention.
By combining functioning public refineries with expanding private ventures, PETROAN believes Nigeria can foster a healthier competitive downstream environment.
Ultimately, a collaborative effort among the Federal Government, regulators, and marketers will ensure that Africa’s largest oil producer finally retains the economic value of its own natural resources.
