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The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) has called on President Bola Tinubu to privatise the Port Harcourt Refinery, warning against continued management by the Nigerian National Petroleum Company (NNPC) Limited.
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EKO HOT BLOG reports that in a statement on Wednesday, PETROAN spokesperson Joseph Obele expressed concern over NNPC’s handling of Nigeria’s refineries, citing inefficiency, corruption, and favouritism as key issues. He criticised the company’s decision to retain Port Harcourt while selling the Warri and Kaduna refineries.
“This isn’t good news. NNPC’s poor track record has led to recurring fuel scarcity, inflated prices, and deepening economic hardship,” Obele said. He argued that keeping the Port Harcourt Refinery under NNPC control would undermine national progress.
Obele highlighted the benefits of privatisation, including increased productivity, foreign investment, job creation, and reliable fuel supply. He assured that the host community would fully support a private investor willing to take over the refinery’s operations.
“Private companies are more accountable and responsive to community needs. The advantages of privatisation clearly outweigh the disadvantages,” he added.
The call comes shortly after the Group Chief Executive Officer of NNPC Ltd, Bayo Ojulari, confirmed that the company would retain ownership of the Port Harcourt Refining Company. The announcement, made during a town hall meeting at NNPC Towers in Abuja, ended growing speculation over a possible sale of the facility.
PETROAN’s appeal is part of mounting pressure on the federal government to restructure the oil sector to improve transparency, efficiency, and service delivery.
