The Petroleum Products Retail Outlets Owners Association of Nigeria has urged the Nigerian National Petroleum Company Limited to fast-track the reopening of the country’s refineries before December to avert a possible fuel scarcity and price hike during the festive season.
The association made the call while commending President Bola Tinubu’s approval of a 15 per cent import duty on petrol and diesel, saying the move could stimulate local refining and strengthen the downstream oil market if properly managed.
The National President of PETROAN, Dr Billy Harry, issued the appeal in Port Harcourt during a courtesy visit to the Pro-Chancellor and Chairman of the Governing Council of the Ignatius Ajuru University of Education, Dr Chinyere Igwe.
Harry described the policy as a bold step toward protecting domestic refineries, stabilising the market, and promoting energy security.
He, however, warned that if the measure was poorly implemented, it could cripple fuel importation and render many importers jobless, a situation he said would lead to fuel scarcity.
“NNPC must complete its partnership agreements quickly and start production at Nigeria’s refineries before December to avert any form of fuel scarcity or price hike during the Yuletide season,” he said.
The Port Harcourt, Warri and Kaduna refineries have been dormant for years despite efforts to revive them.
But the NNPC Group Chief Executive Officer, Bayo Ojulari, has expressed strong optimism that the facilities would work again, even after major stakeholders advised that the plants be sold off.
Speaking on the new tariff, Harry cautioned that failure to enforce fair regulation could wipe out importers who have long served as a check on profiteering.
“Importers of petroleum products, which were a price-check mechanism against profiteering, will be out of business if not properly managed. We call on regulatory agencies, especially the NMDPRA, to be on red alert against monopoly. If local refineries are not properly regulated, monopoly could harm the market,” he said in a statement on Friday.
The PETROAN president said while the tariff would boost local refining capacity and promote energy security, the government must ensure a level playing field for all operators.
He urged fuel importers to look inwards and begin to patronise local refineries rather than depend solely on foreign supplies.
Harry also called on the Nigerian National Petroleum Company Limited to make crude oil available to domestic refineries, warning that the success of the new policy depends on adequate feedstock supply.
He disclosed that PETROAN would collaborate with the Ignatius Ajuru University of Education to expose students to practical aspects of petroleum marketing and energy management. The group, he said, would accept students for industrial training and excursions to filling stations, depots and refineries.
