The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) has voiced strong criticism over the Nigerian National Petroleum Company Limited’s (NNPCL) decision to retain ownership of the Port Harcourt Refining Company.

In a statement released by PETROAN spokesperson, Joseph Obele, the group expressed deep concern that NNPCL chose not to privatize the facility, despite previously hinting at selling off all three national refineries. PETROAN believes that keeping the Port Harcourt plant under state control could worsen existing problems in the downstream sector.

Obele pointed to NNPCL’s longstanding struggles with corruption, inefficiency, and poor management, saying the decision raises red flags. “Fuel scarcity, inflated pump prices, and operational failures have become the norm,” he said. “Privatizing the Port Harcourt refinery would attract fresh investment, enhance efficiency, and ease the burden on consumers.”

PETROAN urged President Bola Tinubu to intervene and reconsider the move, arguing that the benefits of privatisation — including job creation, increased production capacity, and improved fuel supply — far outweigh the risks of government control.

This reaction comes days after NNPCL’s Group Chief Executive Officer, Bayo Ojulari, announced during an internal town hall meeting that the Port Harcourt refinery would not be sold. Ojulari stated the company remains committed to completing the ongoing rehabilitation of the plant.

His latest remarks mark a departure from his position in June, when he suggested the possibility of selling all three major refineries; Port Harcourt, Warri, and Kaduna, due to the complexities of restoring them to full capacity.

While Ojulari insisted the decision was based on new technical and financial assessments, PETROAN remains unconvinced and continues to push for a shift in direction.