The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has urged the Federal Government to direct the immediate resumption of operations at the Port Harcourt, Warri and Kaduna refineries, saying the move would promote competition, strengthen energy security and reduce pressure on the naira.
In a statement signed by Dr. Joseph Obele, the association’s National President, Dr. Billy Gillis-Harry, said Nigeria should not rely on a single refinery to meet its domestic fuel needs, warning that such dependence could expose the country to price instability and supply disruptions.
PETROAN noted that while it supports the deregulation of the downstream petroleum sector and respects the commercial decisions of private refiners, including the Dangote Petroleum Refinery, the recent decision to price petroleum products in United States dollars highlights the risks of having one dominant supplier.
The association explained that marketers who earn revenue in naira may face higher costs when sourcing dollars to purchase products, a situation it said could ultimately lead to increased pump prices for consumers.
According to PETROAN, bringing government-owned refineries back on stream, even on a temporary basis, would create healthy competition, improve price stability, reduce dependence on imported petroleum products and ease demand for foreign exchange.
The association also argued that multiple refining facilities would strengthen Nigeria’s energy security by reducing the risks associated with relying on a single producer.
PETROAN further appealed to the Federal Government to ensure adequate crude oil supply to all domestic refineries and sustain policies that encourage investment in conventional and modular refineries.
It maintained that a competitive refining sector, with both public and private operators, is essential to achieving affordable fuel prices, improving investor confidence and guaranteeing long-term stability in Nigeria’s downstream petroleum industry.
