Victor EzejaThe Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) has strongly criticized the Nigerian National Petroleum Company Limited (NNPCL) for reversing its earlier consideration to privatize the Port Harcourt Refining Company (PHRC).
PETROAN called on President Bola Tinubu to approve the privatisation of the Port Harcourt refinery.
Join our WhatsApp ChannelThe group made the call in a statement released by its spokesperson, Joseph Obele.
It would be recalled that the NNPC had on Wednesday announced that it had ruled out the option of selling the Port Harcourt refinery.
NNPC’s Group CEO, Bayo Ojulari, stated that selling the refinery would be “ill-advised and sub-commercial,” emphasizing the company’s commitment to completing a “high-grade rehabilitation” to restore the plant’s viability.
He said the decision follows detailed assessments of the Port Harcourt, Kaduna, and Warri refineries, which revealed that earlier plans to operate PHRC before full rehabilitation were flawed.
Ojulari hinted at exploring strategic technical partnerships to achieve complete rehabilitation of the refinery and ensure long-term viability.
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However, PETROAN said NNPCL’s decision to sell Kaduna and Warri refineries while keeping Port Harcourt refineries under its management is not in the good interest of the country.
Obele argued that privatizing the refinery would attract private-sector expertise, boost productivity, and stimulate economic growth through increased investment and job creation.
“This isn’t good news. Plans to sell Warri and Kaduna refineries while keeping Port Harcourt under NNPC management are concerning, given NNPC’s history of corruption and favoritism,” he said.
He highlighted NNPC’s history of mismanagement, corruption, and favoritism, which has led to fuel scarcity, high prices, and economic hardship. Privatization, he asserted, would improve accountability and reduce graft.
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“The gains of privatisation would far outweigh the costs, and it is in the best interest of the community and the nation at large,” Obele said.
He also stated that the host community is prepared to support private investors, citing examples like Indorama Petrochemical as models of successful private-sector involvement.
The reactions sparked by NNPCL’s decision reflect a clash between ideological positions. While PETROAN advocates market-driven solutions to revive Nigeria’s refining sector, NNPC prioritizes state-led rehabilitation. The outcome will hinge on the government’s willingness to balance these interests and address systemic inefficiencies in the quest for achieving energy self-sufficiency.
Victor Ezeja is a passionate journalist with seven years of experience writing on economy, politics and energy. He holds a Master's degree in Mass Communication.
