The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has commended the President Bola Ahmed Tinubu, for his administration’s bold and strategic efforts toward revitalising the nation’s refining sector.
PETROAN applauds the recent milestone achieved by the Nigerian National Petroleum Company Limited under the leadership of its Group Chief Executive Officer, Bashir Bayo Ojulari, in signing a Memorandum of Understanding with reputable Chinese firms: Sanjiang Chemical Company Limited and Xingcheng (Fuzhou) Industrial Park Operation and Management Co. Ltd: aimed at accelerating the rehabilitation, restart, and expansion of the Port Harcourt and Warri refineries.
PETROAN commends the visionary leadership and strategic direction of Bashir Bayo Ojulari for driving this innovative technical equity partnership model, which prioritises performance, accountability, and long-term sustainability.
The Association noted that President Tinibu commitment to moving beyond traditional rehabilitation approaches toward globally aligned operational frameworks is a significant step in repositioning Nigeria’s refining sector for efficiency and profitability.
Speaking on the development, the National President of PETROAN, Dr Billy Gillis-Harry, described the agreement as a timely and strategic intervention that signals a new direction for Nigeria’s refining sector.
He explained that the introduction of a technical equity partnership model would bring much-needed operational discipline, efficiency, and accountability that had been lacking in previous refinery rehabilitation efforts.
Dr Billy Gillis-Harry further emphasised that this development represents a decisive shift from past approaches that yielded limited results to a more performance-driven model that ensures long-term sustainability.
According to him, PETROAN sees this initiative as a critical step toward restoring Nigeria’s refining capacity and reducing the nation’s overdependence on imported petroleum products.
He also highlighted that integrating refining operations with petrochemical and gas-based industrial hubs will significantly enhance value creation, stimulate industrial growth, create jobs, and improve foreign exchange stability. He stressed that this aligns with global best practices where modern refineries operate as integrated energy complexes.
Dr Gillis-Harry further outlined the wide-ranging benefits of the successful rehabilitation and expansion of the Port Harcourt and Warri refineries as follows;
“Job creation:, economic development, Increased domestic refining capacity will reduce fuel importation, conserve foreign exchange, stabilise the naira, and stimulate growth across multiple sectors of the economy”.
“Host communities development, Revived operations will drive infrastructural development, enhance corporate social responsibility initiatives, and improve the socio-economic wellbeing of host communities in Rivers and Delta States. Improved refinery performance will significantly boost government revenues through taxes, exports of refined products, and increased value addition within the petroleum value chain”.
PETROAN notes that this bold initiative further demonstrates the readiness of President Bola Ahmed Tinubu to bring renewed hope to Nigerians. By encouraging competition through increased domestic refining capacity and partnerships, the administration is creating a pathway for more competitive fuel pricing, which is expected to ultimately lead to lower fuel costs and improved affordability for citizens.
PETROAN further advises the partner firms: Sanjiang Chemical Company Limited and Xingcheng (Fuzhou) Industrial Park Operation and Management Co. Ltd, to operate in strict compliance with the provisions of the Petroleum Industry Act.
The Association strongly emphasises that there should be no form of “divide and rule” approach in their engagement with stakeholders. Instead, the companies should adopt inclusive, transparent, and community-friendly operational strategies that promote unity and trust.
PETROAN urges the Chinese partners to foster a strong sense of belonging among host communities by prioritising local content, fair employment practices, community development initiatives, and sustained stakeholder engagement. Respect for host communities and adherence to regulatory frameworks will be critical to achieving long-term operational success and stability.
PETROAN further recognises that this reform-oriented approach under President Tinubu’s leadership, alongside the proactive leadership of Bashir Bayo Ojulari, demonstrates a clear commitment to energy security, economic diversification, and the overall transformation of Nigeria’s oil and gas sector.
“We are confident that the successful execution of this partnership will lead to improved product availability, price stability, and operational efficiency across the downstream sector, ultimately benefiting petrol retailers, and the Nigerian populace at large”, he said.
