The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has advised the Federal Government to tread carefully regarding plans to sell the country’s refineries, warning that hurried decisions could repeat past economic missteps.
Dr. Billy Gillis-Harry, PETROAN’s national president, made the remarks in Abuja, urging a comprehensive and inclusive evaluation before any steps toward privatisation are taken. He was responding to increasing calls for the Nigerian National Petroleum Company Limited (NNPC Ltd) to sell off the underperforming refineries.
Gillis-Harry expressed concern that key national assets only seem to become productive after being handed over to private companies. He referenced the sale of Eleme Petrochemicals to Indorama, claiming the transaction lacked proper scrutiny. Today, the same facility thrives under private control, while the original deal failed to clearly benefit Nigerians.
He also cited the case of the National Fertilizer Company of Nigeria (NAFCON), which was allowed to deteriorate before being taken over by private interests who revived it. He argued that this pattern of deliberate neglect followed by rushed sales undermines Nigeria’s economic potential.
According to NNPC, a detailed review of the refineries is ongoing and a final decision is expected by the end of 2025. However, PETROAN believes any privatisation must be transparent and involve stakeholders who have the country’s best interest at heart.
Gillis-Harry noted that PETROAN is not against privatisation itself, but insists that Nigerians — especially those directly involved in the petroleum sector — should play a leading role in the process to safeguard public assets.
Meanwhile, a group known as the Buckingham Palace Group has defended the Olu of Warri, His Majesty Ogiame Atuwatse III, following allegations from ex-agitators regarding a pipeline surveillance contract.
A faction called the Aggressive Niger Delta Freedom Fighters Forum recently accused the monarch of illegal involvement in oil-related activities and called for the cancellation of a federal contract awarded to Pipeline Infrastructure Nigeria Ltd (PINL).
Responding to the accusations, the Buckingham Palace Group dismissed the claims as baseless and politically motivated. They affirmed that both the Olu and PINL have complied with the law and played constructive roles in improving oil sector security.
They further noted that PINL, working under federal supervision, has reduced incidents on the Trans Niger Pipeline significantly and has supported local communities through employment, skills training, and regular engagement.
The group urged the public to disregard the inflammatory statements and focus on maintaining peace and development in the region. They also warned against the dangers of misinformation and called on all concerned parties to resolve disputes through peaceful dialogue.
