The Petroleum Products Retail Outlets Owners Association of Nigeria is urging the Federal Government to sell Nigeria’s four state-owned refineries operated by NNPC Limited to private investors.
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The call was made this week as PETROAN pressed the government to complete the privatisation process by the first quarter of 2026, saying years of public funding have failed to make the refineries productive.
The association said the continued operation of the refineries under government control has drained public funds without delivering results, adding that private ownership would bring better management, fresh capital, and modern technical skills.
PETROAN argued that selling the refineries would boost competition, cut fuel imports, save foreign exchange, and create jobs across the oil and gas value chain, while also easing pressure on government finances.
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The group linked refinery reform to broader sector growth, noting that increased local refining would support upstream investments and strengthen Nigeria’s energy outlook under the 2026 budget framework.
The renewed push follows recent shutdowns at the Port Harcourt and Warri refineries, despite heavy spending on rehabilitation over the years, a situation PETROAN said shows the urgent need for a new approach driven by the private sector.
LIST OF APPLICATIONS FOR REGULARISATION OF AREA COUNCIL LAND DOCUMENTS NULLIFIED/CANCELLED BY THE HONOURABLE MINISTER OF FCT
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