The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has urged the Federal Government to ensure the productive restart of Nigeria’s state-owned refineries by January, ahead of the upcoming election period.
Reacting to President Bola Ahmed Tinubu’s Independence Day address, PETROAN emphasized that returning the refineries to full operation is essential for strengthening domestic refining capacity and optimizing the nation’s critical assets.
PETROAN National President Dr. Billy Gillis-Harry stated that the prolonged inactivity of government-owned refineries has severely impacted businesses, workers, transport operators, and communities that rely heavily on the petroleum value chain.
“This is not simply about restarting refineries. It is about putting national assets back to work for Nigerians,” Gillis-Harry said.
According to the association, integrating state-owned facilities with privately owned refineries will foster a more competitive downstream petroleum market.
This enhanced competition is expected to drive efficiency, stabilize product availability, and potentially ease pump prices.
However, PETROAN noted that pump prices will still be influenced by variables such as crude supply costs, exchange rates, taxes, and logistics, stressing that any refinery revival must be backed by reliable crude feedstock, efficient operations, and effective distribution networks.
The association also commended President Tinubu’s commitment to leveraging Nigeria’s gas reserves to power industries, create jobs, cut production costs, and boost business competitiveness.
It also welcomed reports of declining oil theft, noting that sustained security improvements will lift crude production, boost government revenues, and restore confidence in the oil and gas sector.
Gillis-Harry highlighted that lowering energy costs remains vital, as it directly impacts transportation, manufacturing, and agriculture.
He added that the transition from economic reforms to what the President termed the “age of prosperity” must be tangibly felt in the daily lives, jobs, and businesses of everyday Nigerians.
While acknowledging the administration’s stance against unsustainable subsidies, PETROAN called for closer collaboration between the Federal Government, the Nigerian National Petroleum Company (NNPC) Limited, regulators, and industry marketers to build a stable and predictable petroleum market.