The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has described the Dangote Refinery as a major positive development for Nigeria’s energy sector, saying it should be supported as part of efforts to strengthen local refining capacity and boost the economy.
However, the association stressed that Nigeria still needs to allow the importation of refined petroleum products to maintain competition and ensure steady supply. PETROAN President, Billy Gillis-Harry, made this known during an appearance on Channels Television’s The Morning Brief, noting that Nigeria currently operates a liberalised downstream petroleum market.
He explained that healthy competition is essential for stabilising fuel prices, especially amid global disruptions such as the Middle East crisis, which has contributed to increased fuel costs locally. According to him, market liberalisation would help protect consumers from price volatility and encourage affordability.
Gillis-Harry also rejected concerns that allowing fuel importation would turn Nigeria into a dumping ground for substandard products, stating that the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has the capacity to regulate and ensure product quality. He added that imported products undergo strict checks before entering the market.
While reaffirming support for local refining, including the Dangote Refinery and other potential players like BUA and Azikel, PETROAN maintained that Nigeria should adopt a mixed supply system. This, he said, would prevent overdependence on a single source, strengthen competition, improve availability, and ultimately benefit consumers through more affordable fuel prices.
source: newtelegraph