The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has called on the Federal Government and the Nigerian National Petroleum Company Limited (NNPCL) to restart the Port Harcourt and Warri refineries amid rising petroleum product prices.
PETROAN’s National Public Relations Officer, Dr Joseph Obele, made the call in a statement on Thursday, saying the return of the government-owned refineries would increase domestic refining capacity and reduce reliance on imported products.
Obele said the latest rise in crude oil prices was already feeding into the domestic downstream market, with petrol selling for between ₦1,400 and ₦1,500 per litre in some locations and diesel above ₦2,000 per litre.
According to him, the increase in fuel costs would put further pressure on businesses and transport operators and eventually affect the prices of goods and services.
PETROAN therefore urged the Federal Government and NNPCL to prioritise the rehabilitation and operation of the two refineries while sustaining private-sector participation in the downstream sector.
Obele also called for wider consultation with stakeholders ahead of the planned resumption of oil exploration in Ogoniland.
He said the Federal Government, Rivers State Government, host communities, traditional institutions, regulators and prospective operators should be involved in discussions on the planned return of oil activities to the area.