The Petroleum Products Retail Outlet Owners Association of Nigeria has announced that its members are now sourcing petroleum products from the Port Harcourt and Warri refineries.
This marks a shift from prior skepticism regarding the operational status of the refineries, which are owned by the Nigerian National Petroleum Company Limited (NNPCL).
PETROAN’s spokesperson, Joseph Obele, confirmed this in a statement released on Saturday, stating, “PETROAN members are now loading various petroleum products, including Dual-Purpose Kerosene (DPK), Automotive Gas Oil (AGO), and Premium Motor Spirit (PMS).”
Obele explained that the Port Harcourt refinery is currently supplying petrol, diesel, and kerosene to retailers, while the Warri refinery is focused on providing diesel and kerosene.
He highlighted that the revitalization of these refineries has introduced fierce competition in the market, which is expected to reduce fuel prices.
“The resurgence of these refineries has fostered competition, a key factor in driving down the cost of petroleum products,” Obele said.
According to Obele, the operational refineries have also contributed to the elimination of adulterated diesel and kerosene from the market, reducing consumer risks.
“Before these refineries came back online, counterfeit petroleum products were widespread, creating significant dangers, such as explosions and damage to machinery,” he noted.
The revitalized refineries have also helped curb crude oil theft, which has hindered Nigeria’s ability to meet OPEC production targets. As crude oil production increases, Nigeria is expected to see a rise in revenue and a stabilisation of the naira.
In addition to economic benefits, the operational refineries have generated new job opportunities.
Depots that were previously inactive are now bustling with activity, and local communities are benefiting from empowerment programs that are expected to reduce insecurity and crime in the region.
PETROAN’s National President, Billy Gillis-Harry, praised the efforts to support host communities, noting that the social empowerment initiatives align with both the Petroleum Industry Act and the Nigeria Local Content Act.
He commended the Managing Director of NNPCL Retail Ltd, Mr. Hubb Stockman, for fostering a sense of inclusion among community members.
Gillis-Harry urged both host community members and PETROAN’s retailers to continue supporting the successful operation of the Port Harcourt and Warri refineries, stressing the importance of collaboration for their sustained success.
The operational refineries are also expected to strengthen Nigeria’s economy by increasing local availability of petroleum products, reducing the nation’s reliance on imports, and generating additional revenue for the government.
This could lead to enhanced economic growth, a positive effect on GDP, and an improvement in Nigeria’s overall economic development.
Moreover, the refineries will help secure Nigeria’s energy supply, reduce pressure on foreign exchange, and stabilise the supply chain for petroleum products.
This stability is likely to benefit several sectors, including transportation, manufacturing, and agriculture, driving up productivity and competitiveness.
