Restart idle refineries, PETROAN urges govt

The Nigerian government and state-owned NNPC are being urged by the Petroleum Products Retail Outlets Owners Association to restart government-owned refineries, as soaring fuel prices continue to strain Nigerians. Dr. Joseph Obele, the group's National Public Relations Officer, made the plea in a statement on Thursday, arguing that resuming domestic refining would boost supply and lessen reliance on imports.

Obele emphasized that restarting refineries, particularly the Port Harcourt and Warri facilities, would help meet rising crude oil prices driven by geopolitical tensions and market dynamics. He noted that Brent crude and West Texas Intermediate prices reached $105.83 and $102.43 per barrel, respectively, and that petrol and diesel were selling for N1,400-N1,500 and above N2,000 per litre.

Obele warned that persistent high fuel costs would fuel inflation and deepen Nigerians' financial hardships. He stressed that restarting refineries before the 2027 general elections would showcase the government's commitment to energy security and public confidence. Obele also called for an inclusive and people-centric approach to resuming oil exploration in Ogoniland, emphasizing that the well-being of Ogoni residents should be central to any decision-making process.