Sell Warri and Kaduna Refineries, Urge Petroleum Marketers to Nigerian Government
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has urged the federal government to privatize the Warri and Kaduna refineries to enhance efficiency and transparency in the downstream petroleum sector.
PETROAN’s recommendations include:
- Privatization of Refineries: Selling the Warri and Kaduna refineries to reputable private entities to foster a competitive market and improve operational efficiency.
- Investment in Compressed Natural Gas (CNG): Promoting CNG as an alternative fuel to reduce dependence on petrol and mitigate the impact of subsidy removal on consumers.
- Provision of Crude Oil to Local Refineries: Ensuring consistent crude oil supply to local refineries to boost domestic production and reduce import reliance.
- Financial Support for Marketers: Requesting a ₦100 billion grant to support approximately 10,000 businesses affected by subsidy removal, aiming to prevent potential closures.
These proposals come amid ongoing discussions about the future of Nigeria’s refining capabilities and efforts to achieve self-sufficiency in petroleum product supply.