PETROAN Gives Tinubu January 2027 Deadline To Revive Nigerian Refineries

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has asked President Bola Tinubu to ensure that Nigeria’s government-owned refineries return to sustainable production before the January 16, 2027 election.

The association urged the president to direct the Nigerian National Petroleum Company Limited (NNPCL) to take the necessary steps to revive the facilities, saying their operations would increase competition in the petroleum market and create more jobs.

Naija News reports that PETROAN National President, Billy Gillis-Harry, made the call while reacting to Tinubu’s Independence Day address, in which the president promised to use Nigeria’s gas resources to power new industries.

Tinubu had also declared that the country was moving from an era of economic reforms into an “age of prosperity”.

However, Gillis-Harry said the president’s plan to reduce production costs would not be complete without restoring the government-owned refineries and increasing local refining capacity.

He said the continued inactivity of the facilities had affected millions of Nigerians whose businesses and livelihoods depend on the petroleum industry.

According to him, bringing the refineries back into operation would reduce dependence on imported petroleum products, create employment opportunities and boost economic activities in communities hosting the facilities.

He also argued that having more operational refineries competing in the market could improve efficiency and increase the availability of petroleum products.

“Increased competition among domestic refineries and other suppliers could encourage efficiency, improve product availability and create market conditions capable of exerting downward pressure on petroleum-product prices,” the association said.

PETROAN, however, acknowledged that other factors, including crude oil costs, exchange rates, taxes, and transportation expenses, would continue to influence petroleum product prices.

The association added that a competitive refining market would give consumers more choices and encourage refiners and marketers to improve their services.

It maintained that reviving the government-owned refineries should not be seen only as an infrastructure project but also as a way to reduce energy costs, create jobs and strengthen the country’s economy.

On the president’s plan to use gas to power new industries, PETROAN said Nigeria had enough gas resources to support industrial growth and reduce the cost of doing business.

The association also welcomed the reported reduction in crude oil theft, noting that improved security in the oil sector could increase crude production, boost government revenue and encourage investment.

However, it insisted that the government’s economic plans must be supported with practical steps in the petroleum industry.

PETROAN called for adequate crude oil supply to local refineries, increased refining capacity, effective distribution of petroleum products and a transparent downstream market.

It said these measures would help stabilise the supply and prices of Premium Motor Spirit (PMS), Automotive Gas Oil (AGO), and other petroleum products.

The association also acknowledged the Tinubu administration’s position against returning to what the president described as ‘addictive subsidies’.

It said the government must ensure the alternative is a sustainable petroleum market that protects consumers while encouraging investment.

Gillis-Harry called for stronger cooperation among the Federal Government, NNPC, regulatory agencies, refinery operators, petroleum marketers and other stakeholders to ensure that Nigeria benefits more from its petroleum resources.

He said reviving the government-owned refineries would also reassure Nigerians working in the petroleum industry that the country’s strategic assets could still provide economic opportunities.

PETROAN further argued that combining operational government refineries with the growing capacity of private refineries would promote competition, improve energy security and support job creation.

The association urged Tinubu to translate his declaration that “the age of reform has done its work. Now begins the age of prosperity” into practical results in the petroleum sector, beginning with the sustainable revival of government-owned refineries.