Oil marketers under the Petroleum Products Retail Outlets Owners Association of Nigeria, PETROAN, have asked the Federal Government to privatise state-owned refineries, promote competition, enhance transparency, and invest in infrastructure to improve the downstream petroleum sector.
The association specifically recommended the privatization of the Warri and Kaduna refineries, which together have a capacity of 125,000 barrels per day.
READ ALSO: Falana exposes Obasanjo’s deal on refineries
PETROAN’s proposals were outlined in its 2024 retrospective and 2025 outlook document released in Abuja on Saturday. The report was signed by National President Billy Gillis-Harry, National Secretary Adedibu Aderibigbe and National Public Relations Officer, Dr. Joseph Obele.
Call for Local Refining and Infrastructure Development
PETROAN stressed the need to prioritise access to crude oil for local refineries to reduce reliance on imported petroleum products. “This strategic move will boost Nigeria’s refining capacity, drive economic growth, and enhance energy security,” the report stated.
The marketers also urged the government to invest in infrastructure, including refineries, pipelines and storage facilities, to improve refining capacity. They advocated enhanced local content development, effective utilization of Compressed Natural Gas, CNG, by 2025, and strict measures to prevent the smuggling of petroleum products.
To mitigate the effects of subsidy removal, PETROAN called for a ₦100 billion grant from government to support 10,000 marketers’ businesses at risk of closure.
Achievements and Challenges
Reflecting on 2024, PETROAN highlighted significant milestones, such as the commencement of operations at the Dangote Refinery, deregulation of the downstream sector, and the rehabilitation of the old Port Harcourt refinery.
However, the marketers pointed out challenges, including pipeline vandalism, limited CNG infrastructure, and high costs of transporting natural gas. They urged the government to address these issues to sustain progress in the sector
Crediblenewsng.com
