PETROAN Urges Tinubu to Revive Refineries by 2027

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has called on President Bola Tinubu to revive Nigeria's government-owned refineries before the January 16, 2027 election. PETROAN National President, Billy Gillis-Harry, made this request following Tinubu's Independence Day address, where the president discussed utilizing Nigeria's gas resources for industrial growth.

Gillis-Harry stated that restoring the refineries is crucial for reducing production costs and increasing local refining capacity, which would benefit millions of Nigerians reliant on the petroleum sector. He argued that operational refineries would foster competition, improve efficiency, and enhance the availability of petroleum products, ultimately leading to lower prices.

PETROAN acknowledged that factors such as crude oil costs and exchange rates would still affect prices but insisted that a competitive refining market would provide consumers with more choices and better services. The association also welcomed the reduction in crude oil theft and emphasized the need for practical steps to support the government's economic plans in the petroleum industry.