Marketers Call for Fair Competition in Nigeria’s Oil Sector
Oil marketers in Nigeria are pushing for a competitive and open market where all players—including refiners, importers, depot owners, and retailers—can operate on a level playing field.
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has emphasized the need to ensure fuel availability and affordability, whether sourced from local refineries or imports.
No Monopoly in the Industry
Speaking on Channels Television’s “The Morning Brief”, PETROAN President Billy Gillis-Harry stressed the importance of fair competition in the petroleum industry.
He argued that monopoly should not be encouraged, and every operator should be allowed to participate freely in the market.
“Even importation is not a crime, as the Petroleum Industry Act (PIA) allows for it. However, as patriotic Nigerians, we must prioritize our internal market to strengthen our economy,” he said.
Dangote Refinery Not a Threat
Gillis-Harry dismissed concerns that Dangote Refinery and other private refineries could create a monopoly.
He assured that PETROAN members remain committed to working with all refineries, including those operated by NNPC, Dangote Group, and other independent refiners.
“We support all refiners and encourage them to continue production while depot owners maintain supply, and retail outlets keep selling to the public. The goal is to meet Nigerians’ energy needs effectively,” he added.
PETROAN’s Commitment to Reliable Supply
Gillis-Harry explained that PETROAN maintains long-term agreements with NNPC, enabling them to purchase products in bulk. They also source fuel from Dangote Refinery and other credible suppliers.
“Our members lift fuel from every available source to ensure consistent supply. We have a business partnership with Dangote, MRS, and other key industry players to keep products flowing,” he said.
Nigeria’s Refinery Challenges and Dangote’s Role
Nigeria has long struggled with refining its crude oil domestically, relying heavily on fuel imports for decades. Until 2024, all state-owned refineries were inactive, leaving NNPC as the country’s primary fuel importer.
In December 2024, Africa’s richest man, Aliko Dangote, launched operations at his $20 billion refinery in Lagos, which currently processes 350,000 barrels per day. The refinery aims to reach its full 650,000 barrels per day capacity by the end of the year.
What’s Next for Nigeria’s Oil Market?
As Nigeria works towards self-sufficiency in refining, industry stakeholders are urging regulators to maintain a competitive market that fosters investment, innovation, and affordability for consumers.
With fuel prices fluctuating and economic pressures mounting, all eyes are on government policies and private-sector investments to determine the future of Nigeria’s energy industry.
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