The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has called on the Federal Government to urgently restore full commercial operations at the Port Harcourt, Warri and Kaduna refineries, warning that Nigeria’s energy security should not rely on a single fuel supplier.
In a statement issued on Wednesday, PETROAN President, Dr. Billy Gillis-Harry, said the association supports the deregulation of the downstream petroleum sector but believes that functional government-owned refineries are necessary to promote competition and protect the economy.
Gillis-Harry said a market that depends on one dominant supplier risks instability, describing the revival of the state-owned refineries as a long-term necessity rather than just a temporary solution.
PETROAN’s call followed concerns over Dangote Petroleum Refinery’s decision to price petroleum products in United States dollars.
The association said the move, although a commercial decision, exposed the risks of allowing a single major supplier to influence the domestic fuel market.
According to PETROAN, fuel marketers who earn revenue in naira could face additional pressure sourcing foreign exchange to purchase petroleum products, making pump prices more vulnerable to fluctuations in the exchange rate.
The association said restarting the Port Harcourt, Warri and Kaduna refineries would help create a price-check mechanism, encourage competition, reduce pressure on foreign exchange, strengthen energy security and improve confidence in Nigeria’s downstream petroleum sector.
PETROAN also urged the Federal Government to guarantee adequate crude oil supply to domestic refineries and continue policies that encourage investment in both modular and conventional refineries.
The association maintained that Nigeria’s petroleum sector requires both public and private operators working side by side to build a more resilient energy market.
It stressed that the country’s energy security should not depend on the decisions or currency preferences of a single refinery, regardless of its size.
