Port Harcourt Refinery
Privatise Port Harcourt, Warri refineries, PETROAN tells FG
The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) has requested the Federal Government to privatise the Port Harcourt and Warri Refineries in 2025 to firms for efficiency and reduction of government spendings.
It made the request in a document titled: “To whom It may concern,” which The Nation obtained from Abuja on Saturday.
The document was signed by the National President, Billy Hary; Secretary, Barr Adedibu Aderibigbe, and Public Relations Officer, Dr Joseph Obele.
In its recommendations, the association said: “Based on PETROAN’s observations, the following recommendations are made to
ensure the effectiveness and efficiency of the downstream sector in 2025:. “Privatization of Nigerian-Owned Refineries: Privatize Nigerian-owned refineries, such as the Warri and Kaduna refineries, to reputable private companies to improve efficiency and reduce government spending.”
It further noted that privatisation of the plants would foster a competitive market by encouraging new entrants and promoting a level playing field to prevent monopolies and ensure fair pricing.
It said it would enhance transparency and accountability.
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PETROAN also requested President Ahmed Tinubu to save the businesses of 10,000 oil and gas marketers with N100billion intervention.
This followed the perceived job losses due to the removal of the Premium Motor Spirit (PMS) petrol subsidy.
The document said: “PETROAN request for a grant of ₦100 billion from President Bola Tinubu to help prevent the closure of 10,000 marketers’ businesses.
” The request is in response to the threat of job losses that would result from the removal of the fuel subsidy.”
PETROAN also urged the government to address cross-border smuggling of petroleum products by collaborating
with neighbouring countries to strengthen border security and prevent
smuggling, and also utilize digital tracking systems to monitor petroleum
products from refineries to retail outlets.
The association further asked the government to prioritise local refineries’ access to crude oil to boost Nigeria’s refining capacity and reduce reliance on imported petroleum products.
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