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By Adewale Sanyaolu
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), has condemned the current prices of petroleum products which it described as outrageous, saying it has caused severe hardship for citizens.
A statement by the PETROAN Public Relations Officer (PRO), Joseph Obele, also called on the Federal Government to take immediate action to ensure that the country’s refineries resume and sustain operations by the first quarter of 2026.
According to him, multiple functional refineries operating simultaneously will reduce import dependence, improve supply stability, and create pricing advantages that directly benefit consumers.
He lamented that Nigeria’s state-owned refineries in Port Harcourt, Warri, and Kaduna were abandoned for many years.
“The Port Harcourt Refinery underwent rehabilitation at a cost of about $1.5 billion and resumed operations in November 2024. However, it was subsequently shut down again on May 24, 2025, alongside similar challenges affecting the Warri and Kaduna refineries.
“Within the first six months of operation, business activities resumed around the refinery host communities, leading to increased commercial engagement and the employment of youths,” he said.
Obele said as Nigeria approaches another election season, the condition of the refineries will become a critical campaign issue. He stressed that both the ruling party and opposition parties are expected to use the narratives of abandonment, neglect, mismanagement, and alleged fraud as major campaign selling points.
He argued that the resumption of refinery operations will cause competition in the downstream petroluem sector, which is expected to drive down petroleum product prices.
“This will provide a strong campaign advantage through visible outcomes such as job creation, a surge in business activities, and renewed engagement with host communities. Ultimately, the party that demonstrates genuine commitment to the revival and efficient management of the Port Harcourt, Warri, and Kaduna refineries will be a major determinant of voter support in the next general election,” he said.
PETROAN had in its 2025 sector review and 2026 outlook disclosed that Nigeria spent N11.35 trillion on the turnaround of Port Harcourt, Warri, and Kaduna refineries over the past decade, but the facilities remain non-operational.
It noted that approved contracts include $1.5 billion for Port Harcourt and $1.48 billion for Warri and Kaduna combined, spurring probing by security agencies and legislative oversight bodies into allegations of mismanagement and malfeasance.
The association emphasised the need for forensic audits and clear accountability frameworks to restore public confidence in sector investments.
“Over the past decade, massive public funds, reportedly around N11.35 trillion (equivalent to billions of dollars), have been expended on turnaround maintenance and rehabilitation of the four government-owned refineries (Port Harcourt, Warri, and Kaduna), yet the facilities largely remain non-functional or underperforming.
“Specific approved contracts include Port Harcourt Refinery: $1.5 billion. Warri & Kaduna Refineries combined: $1.48 billion. These significant outlays, coupled with the enduring non-operational status of the refineries, have prompted investigations by security agencies and legislative oversight bodies into allegations of fraud, mismanagement, and lack of accountability,” the review indicated.
