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The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has called on the Nigerian government to privatize the Warri and Kaduna refineries.
In a statement titled “Retrospect of Nigeria’s Oil and Gas Downstream Sector in 2024,” PETROAN emphasized that transferring ownership of the 125,000 barrels-per-day Warri Refinery and the 110,000 barrels-per-day Kaduna Refinery to reputable private firms would enhance efficiency and reduce government expenditure.
The association urged the administration of President Bola Ahmed Tinubu to prioritize this move to bolster the downstream oil sector in 2025.
Additionally, PETROAN requested a N100 billion intervention fund to support filling stations struggling with the economic impact of fuel subsidy removal, warning that without it, 10,000 marketers risk closure.
The call for privatization coincides with the Nigerian National Petroleum Company Limited’s (NNPCL) announcement of resumed operations at the Warri Refinery after rehabilitation. Meanwhile, the Kaduna Refinery is undergoing a comprehensive overhaul alongside the Port Harcourt Refinery.
The demand also follows former President Olusegun Obasanjo’s claim that NNPCL rejected an offer from Dangote Group in 2007 to manage the Port Harcourt and Kaduna refineries, a decision later reversed due to alleged procedural flaws.
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