…Begin fuel loading from Warri refinery
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has asked the Federal Government to privatise government-run refineries, allow competition, and boost transparency, accountability and investment in infrastructure, in order to enhance operations in the downstream sector.
The marketers, who made the demand in its ‘2024 Retrospective and Outlook’ document, released at the weekend, urged the Federal Government to privatise Warri and Kaduna refineries. They also asked the Government to enforce local content development, boost the effectiveness of compressed natural gas (CNG) in 2025, and combat smuggling.
PETROAN further requested that the Federal Government prioritise access to crude oil and give an ₦100 billion grant to salvage 10,000 businesses affected by the fuel subsidy removal.
It listed its other needs to boost gains in the downstream petroleum industry, saying privatisation will improve efficiency and limit spending. According to the document, the move will positively impact the country’s economy by reducing reliance on imported petroleum products.
“PETROAN requests a grant of N100bn 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 resulting from removing the fuel subsidy”, the document said.
Recall that the Independent Petroleum Marketers Association of Nigeria (IPMAN) has revealed that intense competition among Nigerian refineries is the reason for the petrol price crash.
Checks reveal that as of December 29, 2024, several petrol stations have slashed their pump prices due to the drop in ex-depot prices.
Meanwhile, it was gathered that the oil marketers have begun loading diesel and kerosene from the newly-refurbished Warri Refinery. Dealers disclosed the development on Friday, January 3, 2024, as they requested petrol from the facility.
Okenini pointed out marketers have begun lifting diesel and Kerosene from the plant. The Delta State Chairman of the Surface Tank and Kerosene Peddlers branch of NUPENG, Kingsley Erituoyo, said that the refinery was down for several years, but has now begun production.
However, Chairman of IPMAN’s Delta State chapter, Harry Okenini, said it is still less than 100% functional despite the refinery working.
Checks reportedly revealed a scanty movement of trucks at the refinery complex. According to the report, there were skeletal activities at the facility relative to the first day it was reopened.
Experts have disclosed that the Nigerian government and the NNPCL must do more to ensure the facility’s optimal operation.
The Warri refinery, managed by the NNPCL, became active on December 30, 2024, following an announcement by Mele Kyari, the company’s Group Chief Executive Officer/CEO.
