The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has congratulated the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) on the successful licensing of 83 refineries with a combined refining capacity of 1,124,500 barrels per day.
According to the breakdown released by NMDPRA, the licenses include eight refineries with Licenses to Operate (LTO), 30 with Licenses to Construct (LTC), and 45 with Licenses to Establish (LTE).Speaking in Abuja on Sunday, PETROAN National President, Dr. Billy Gillis Harry, emphasized the critical need for consistent crude oil supply to the newly licensed refineries.
He noted that ensuring adequate crude allocation is essential for the sustainability of local refining operations. Dr. Harry identified two major advantages of enhancing crude availability to local refineries: boosting domestic petroleum production to reduce dependence on imports and conserving foreign exchange, and generating employment while driving economic growth through optimal refinery operations.
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He praised the leadership of NMDPRA Chief Executive, Engr. Farouk Ahmed, for his innovative and transparent approach, which has attracted investment and restored confidence in the oil sector. PETROAN also commended President Bola Tinubu for his visionary leadership in transforming the petroleum industry, noting the administration’s commitment to creating a conducive environment for growth.
Additionally, the association acknowledged the efforts of the Minister of State for Petroleum Resources, Senator Heineken Lokpobiri, particularly in enhancing daily crude oil production through improved security initiatives. Highlighting the impact of local refining, PETROAN cited the significant drop in petrol imports—from 44.6 million liters per day in August 2024 to 14.7 million liters per day as of April 13, 2025, as evidence of progress.
The association reaffirmed its commitment to partnering with the NMDPRA and other stakeholders to overcome challenges and harness emerging opportunities in the sector.“We are confident that Nigeria’s petroleum industry is on the path to remarkable growth and transformation.”
