PETROAN Urges Quick Revamp of Nigeria's State Refineries

The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN), represented by President Dr. Billy Gilli, has urged the Federal Government to quickly restore the country's state-owned refineries—specifically those in Port Harcourt, Warri, and Kaduna—to full commercial operation. This call aims to enhance competition within Nigeria's downstream petroleum market, stabilize prices, and strengthen energy security.

PETROAN argues that the current reliance on a single refinery, particularly the Dangote Petroleum Refinery, exposes the market to risks associated with exchange rate volatility and price fluctuations. They stress that merely having refining capacity does not guarantee competition; instead, multiple operational refineries are necessary for effective price discovery and consumer protection.

The association has proposed a temporary resumption of operations at the state-owned refineries while discussions on long-term rehabilitation are ongoing, asserting that this move would create a price-check mechanism and promote genuine competition in the sector.