The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) has expressed dissatisfaction over comments attributed to the President of Dangote Group, Alhaji Aliko Dangote, saying NNPCL-owned Refineries may never work again.
PETROAN’s National Public Relations Officer, Dr. Joseph Obele, said that contrary to Alhaji Dangote’s skeptical view, the Nation’s Refineries will come alive and become profitable when they are privatized, allowing those with the requisite skills to manage them privately.
”Dangote’s statement may be an expression of an inner desire to maintain a monopoly in the refinery sector, which may be detrimental to the country’s economy. A monopoly of the refinery sector will lead to higher prices for the consumers in the future, and privatization of the country’s refineries will lead to an increase in efficiency and investment opportunities.”
PETROAN Public Relations Officer called on President Bola Tinubu to mandate the privatization of the nation’s refinery, which he noted will increase market competition and provide more jobs, thereby leading to an improved economy that is beneficial to the government and the masses.
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”We call on stakeholders, including NUPENG, PENGASSON, and IPMAN, to support competition and the revival of the government-owned Refineries. Together we can build a thriving refinery sector that benefits the nation contrary to speculations that the Refineries are good for nothing.”
Dr. Obele expressed optimism that with the right investment, collaboration of regulatory bodies and management of a privatized refinery, Nigerians will benefit hugely from the positive earnings the country will make from having functional refiners.
