NNPCL urged to restart government refineries as petrol prices hit N1,500 – Expert

Energy expert Dr Joseph Obele has urged the Nigerian government and Nigerian National Petroleum Company Limited (NNPCL) to urgently restart the country's government-owned refineries. Obele, also the PRO of the Petroleum Products Retail Outlets Association of Nigeria (PETROAN), made this call in a press statement on September 17, 2026, as petroleum prices continue to escalate.

Restarting the government-owned refineries would increase domestic supply and reduce dependence on imported refined petroleum products, contributing to a more stable downstream petroleum market. Obele expressed concerns over the rising international crude oil prices, particularly due to tensions between the United States and Iran, and the potential impact of the Strait of Hormuz.

The Brent crude closed at $105.83 per barrel and WTI at $102.43 per barrel on September 16, 2026. Dr Obele highlighted the economic and employment implications of the prolonged dormancy of government-owned refineries, affecting workers, contractors, marketers, transporters, and businesses. He stressed that restarting the refineries before the 2027 general elections would be crucial for Nigeria's energy security and public confidence in the government's commitment to reviving critical national assets.

In March 2026, PETROAN had warned that petrol prices could reach N2,000 per litre amid Middle East tensions, urging NNPCL to strengthen domestic refining capacity to shield Nigeria from global petroleum market shocks.