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The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has urged the Nigerian government to restore full commercial operations at the Port Harcourt, Warri and Kaduna refineries, warning that Nigeria’s energy security should not rely on a single refinery.
In a statement issued on Wednesday, PETROAN President Billy Gillis-Harry said the association supports the deregulation of the downstream petroleum sector but believes government-owned refineries must operate alongside private facilities to promote competition and strengthen the economy.
The association said the recent decision by Dangote Petroleum Refinery to price petroleum products in United States dollars exposed the risks of depending heavily on one dominant supplier. According to PETROAN, marketers who earn revenue in naira could face increased pressure sourcing foreign exchange, making domestic fuel prices more vulnerable to exchange-rate fluctuations.
PETROAN argued that reviving the three state-owned refineries would provide a pricing benchmark, encourage healthy competition, reduce foreign exchange pressures and improve investor confidence in the downstream petroleum industry.
The association also called on the Nigerian Government to guarantee adequate crude oil supply to all domestic refineries and sustain policies that encourage investment in both modular and conventional refining facilities.
It maintained that a resilient petroleum sector requires both public and private refineries operating competitively to ensure long-term energy security and market stability.
