Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has called on President Bola Ahmed Tinubu to approve the privatisation of Port Harcourt refinery,
Gatekeepers News reports that in a statement on Wednesday, PETROAN noted that such a move would enhance efficiency, attract investment, and boost economic development.
PETROAN spokesperson Joseph Obele voiced disappointment over Nigerian National Petroleum Company (NNPC) Limited’s decision to retain control of the refinery.
He said, “This isn’t good news. Plans to sell Warri and Kaduna refineries while keeping Port Harcourt under NNPC management are concerning, given NNPC’s history of corruption and favoritism.”
The spokesman stressed that private sector ownership tends to promote accountability and stronger community relations, referencing Indorama Petrochemical as a successful example of private sector involvement.
Obele criticised the NNPC’s handling of Nigeria’s refineries, linking it to persistent fuel shortages, soaring prices, and widespread economic hardship. He said this track record highlights the urgent need for a shift in strategy.
According to him, privatising the Port Harcourt refinery would bring several benefits, including Improved productivity and technical expertise, Increased investment and job opportunities, more reliable fuel supply, reduced corruption and enhanced transparency, and Global competitiveness and higher government revenue.
He added, “The gains of privatisation would far outweigh the costs, and it is in the best interest of the community and the nation at large.”
Obele said the host community is fully prepared to support and collaborate with any private investor to ensure the refinery’s long-term success.
