The Petroleum Products Retail Outlet Owners Association of Nigeria has urged President Bola Tinubu to approve the privatisation of the Port Harcourt refinery. PETROAN says private sector control would improve efficiency, attract investment, and boost economic growth.
In a statement issued on Wednesday, the association’s spokesperson, Joseph Obele, criticised the Nigerian National Petroleum Company Limited’s decision to retain the refinery. He cited past instances of “corruption and favouritism” in NNPC’s operations as cause for concern.
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Obele argued that privatisation would increase productivity and create jobs, while also reducing corruption and enhancing accountability. He named Indorama Petrochemical as an example of how private firms could be more effective and responsive to host communities.
He said the local community would cooperate fully with any private investor, stressing that the benefits of privatising the refinery would outweigh the costs for both the region and the country at large.
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