• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Sunday, June 29, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Retail Outlet Owners Seek Privatisation Of Nigerian Refineries

by Leadership News
6 months ago
in Business
Privatisation Of Nigerian Refineries
Share on WhatsAppShare on FacebookShare on XTelegram

Oil marketers have called on the federal government to privatise state-owned refineries, including the 125,000 barrels per day Warri and Kaduna refineries, as part of broader reforms to enhance transparency, competition, and operational efficiency in the downstream petroleum sector.

Advertisement

The marketers also urged the government to prioritise infrastructure investment, enforce local content development, expand Compressed Natural Gas (CNG) adoption by 2025, and curb petroleum product smuggling.
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), made this known in a report titled 2024 Retrospect and Outlook for 2025, released on Saturday in Abuja.

The document, signed by PETROAN leaders including national president, Billy Gillis-Harry; national secretary, Adedibu Aderibigbe and national public relations officer, Joseph Obele, detailed recommendations for consolidating progress in the sector.

The marketers advocated the privatisation of government-owned refineries to reputable private companies, asserting that such a move would improve efficiency and reduce government expenditure.

They also stressed fostering a competitive market by encouraging new entrants to eliminate monopolies, ensure fair pricing, and enhance regulatory compliance through a robust monitoring framework.

RELATED

Federal Gov’t, IFAD Train 600 Farmers In Budgeting, Farming Techniques In Benue

We’re Making Abia Farmers Globally Visible – Agric Firm

6 hours ago
Marginal Field Awardees: NUPRC Restates Commitment To Transparency Culture

Oil Prices Plunge 6% As Middle East Ceasefire Eases Supply Fears

10 hours ago

“Foster a competitive market by encouraging new entrants and promoting a level playing field to prevent monopolies and ensure fair pricing.

“Establish a robust monitoring and evaluation framework to track the performance of downstream operators and ensure compliance with regulatory requirements.

“Continue to invest in critical infrastructure and preventive maintenance, such as refineries, pipelines, and storage facilities, to improve the country’s refining capacity and reduce reliance on imported petroleum products.

“Encourage the development of local content by supporting indigenous companies and providing incentives for research and development in the downstream sector.

“Private sector participation should be encouraged to increase access to funding and expertise. Regulatory frameworks should be reviewed to reduce operational costs and attract investment. Stakeholder engagement and awareness campaigns should be intensified to promote the adoption of CNG.

“Collaborate with neighbouring countries to strengthen border security and prevent smuggling, and also utilise digital tracking systems to monitor petroleum products from refineries to retail outlets.

The document added, “To boost Nigeria’s refining capacity and reduce reliance on imported petroleum products, we strongly recommend that crude oil be made available for local refineries.

“This strategic move will have a positive impact on the country’s economy and energy security. By prioritising local refineries’ access to crude oil, Nigeria can unlock the full potential of its refining sector, drive economic growth, and enhance energy security.

“PETROAN requests a grant of N100 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.”

The report highlighted key sectoral achievements in 2024, including the deregulation of the downstream sector, infrastructure construction, the rehabilitation of the old Port Harcourt refinery, and the commencement of operations at the Dangote Refinery.

“The Dangote Refinery’s prices were initially competitive, putting pressure on the NNPC Limited to review its pricing strategy. This competition ultimately benefited consumers, who enjoyed relatively stable and lower prices for petroleum products.”

However, the marketers urged the government to address vandalism, inadequate infrastructure, limited Compressed Natural Gas stations and distribution networks, and high operating costs, especially compressing and transporting natural gas.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

BREAKING NEWS: Nigerians can now earn US Dollars from the comfort of their homes with Ultra-Premium domains, acquire them for as low as $1700 and profit as much as $25,000. Click here to learn how you can earn US Dollars consistently.


Tags: PETROANRefineries
SendShareTweetShare
Previous Post

Kwara Club Plans N100m Amenities Ward For Omu- Aran Hospital

Next Post

Microsoft To Invest $80bn In AI Data Centers Amid U.S.-China Tech Race

Leadership News

Leadership News

You May Like

Federal Gov’t, IFAD Train 600 Farmers In Budgeting, Farming Techniques In Benue
Agriculture

We’re Making Abia Farmers Globally Visible – Agric Firm

2025/06/29
Marginal Field Awardees: NUPRC Restates Commitment To Transparency Culture
Business

Oil Prices Plunge 6% As Middle East Ceasefire Eases Supply Fears

2025/06/29
New Afreximbank President To Restructure African Trade
Business

New Afreximbank President To Restructure African Trade

2025/06/29
Oyetola
Business

Federal Gov’t Launches Life-jacket Safety Initiative

2025/06/29
Tech Scholar To Drive Academic Vision As OAU’s New DVC
Business

Tech Scholar To Drive Academic Vision As OAU’s New DVC

2025/06/29
MONEY MARKET: Assessing Customers’ Losses To Fraudsters Through Digital Banking
Business

Cybercrime: Half Of Victims Paid Ransom In 2025

2025/06/29
Leadership Conference advertisement

LATEST

Sultan Tasks Political Leaders On Motto Of National Institute

Kanu, Ikpeba To Attend NNL Super 8 Opener

WAFCON 2024: CAF Celebrates Former Super Falcons Captain, Ebi

70% Nigerians Without Insurance Cover — NCRIB 

Ojude Oba: Brands, Celebs Find New Spotlight

Mádé Kuti Drops New Single ‘Wait And See’

I Haven’t Seen My Daughter In A While – Skales

What Inspired Me To Go Into Music – Only1Bennie

Kogi, Others Target $750m SABER  Fund To Promote Ease Of Doing Business 

Gov’t Sec School Ekori Wins Girls Engineering Competition In Cross River

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.