The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has recommended the privatization of the Warri and Kaduna refineries to improve efficiency and reduce government spending. PETROAN also requested N100 billion in intervention funds from President Bola Ahmed Tinubu's administration to prevent filling stations from shutting down.
Petroleum Products Retail Outlets Owners Association of Nigeria, PETROAN , has urged the Nigerian government to sell the Warri and Kaduna refineries. PETROAN disclosed this in a statement on Saturday titled, 'Retrospect of Nigeria's Oil and Gas Downstream Sector in 2024', signed by its National President, Billy Gillis-Harry; Secretary, Adedibu Aderibegbe; and spokesperson, Joseph Obele.
According to the marketers, privatisation of the 125,000 barrels per day Warri Refinery and 110,000 barrels per day Kaduna Refinery would improve their efficiency and reduce government spending. PETROAN explained that the Nigerian government needs to sell the refineries to a reputable firm to guarantee a successful 2025 in the downstream sector. 'Based on PETROAN's observations, the following recommendations are made to Ensure the effectiveness and efficiency of the downstream sector in 2025: 'Privatisation of Nigerian-Owned Refineries_: Privatise Nigerian-owned refineries, such as the Warri and Kaduna refineries, to reputable private companies to improve efficiency and reduce government spending. Meanwhile, PETROAN calls on President Bola Ahmed Tinubu's administration to consider its request for N100 billion in intervention funds to prevent filling stations from shutting down over the harsh economic realities. 'PETROAN request for 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 statement reads. PETROAN's recommendation for the sale of the Warri and Kaduna refineries comes amid a claim by former President Olusegun Obasanjo that NNPCL rejected Dangote's offer to manage Port Harcourt and Kaduna refineries in 2007. Meanwhile, a Senior Advocate of Nigeria, Femi Falana, revealed that the sale of the Port Harcourt and Kaduna refineries was cancelled because Obasanjo did not follow due process
Refineries Privatisation Nigerian Government PETROAN Economy
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
PETROAN Urges NNPCL to Lower Petrol Price After Dangote Refinery's ReductionThe Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has called on the Nigerian National Petroleum Company Limited (NNPCL) to reduce its ex-depot price of Premium Motor Spirit (PMS), following a price cut by Dangote Refinery. Dangote Refinery lowered its ex-depot price to N899.50 per litre from N970, prompting praise from PETROAN for the relief it provides to motorists and Nigerians. PETROAN's National President, Billy Gillis-Harry, urged NNPCL to reconsider its selling rate to encourage competition in the downstream sector and suggested the privatization of the Port Harcourt Refinery to benefit consumers.
Read more »
PETROAN, Dangote refinery partner to ensure availability of petrol during yuletidePETROAN says it has partnered with Dangote refinery to ensure the availability of PMS, also known as petrol, during the festive season.
Read more »
Fuel Price Slash: PETROAN, Dangote Refinery sign agreement on direct petrol saleThe Association of Nigeria Petroleum Products Retail Outlets Owners and Dangote Refinery have signed an agreement on direct premium motor spirit sale to further reduce the price of the product. The spokesperson of PETROAN, Joseph Obele, disclosed this in a statement on Friday.
Read more »
PETROAN, Dangote, sign petrol purchase agreementThe association also called on stakeholders in the downstream sector to support the management of NNPC Retail Ltd and Dangote Refinery to sustain petroleum products supply.
Read more »
Kaduna Governor Urges Residents to Embrace Peace and UnityGovernor Uba Sani of Kaduna State called on residents to prioritize peace, love, and unity during a Christmas Carol event hosted by the Christian Association of Nigeria (CAN). He emphasized the detrimental impact of ethnic and religious divisions and pledged to work with religious and community leaders to address poverty and create jobs.
Read more »
Kaduna Archbishop Urges Tinubu to Change Policies Amidst HardshipCatholic Archbishop Man-oso Ndagoso of Kaduna called on President Bola Ahmed Tinubu to review his policies, arguing they have failed to improve the lives of Nigerians. Archbishop Ndagoso highlighted the persistent challenges of insecurity, hunger, poverty, banditry, kidnapping, and terrorism, leading to despair and emigration. He urged the government to adopt measures to alleviate the suffering caused by current policies and commended farmers for risking their lives to cultivate crops.
Read more »