The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has called for stronger measures to prevent monopolistic control in the downstream oil sector, warning that unrestricted dominance by a few players could undermine Nigeria’s deregulated fuel market.
Speaking at the 2025 OTL Downstream Week in Lagos, PETROAN President, Dr. Billy Gillis-Harry, said open competition and equal market access remain vital for a stable and transparent energy sector.
He noted that the removal of fuel subsidy in 2023 had created a liberalised environment that encouraged private investment but also introduced new risks, including price instability and uneven access to supply networks.
According to Gillis-Harry, the country’s downstream market—valued at roughly N1.2 trillion—is expected to grow steadily over the next five years, provided policies continue to support fair participation for both large and small operators.
“Healthy competition among players such as modular refineries, NNPC, Dangote Refinery, and independent marketers is crucial to sustaining market growth and protecting consumers,” he said.
He cautioned that smaller independent retailers, who often serve rural and underserved communities, could be forced out if larger firms corner the market through preferential access and pricing advantages.
To strengthen the deregulated framework, PETROAN urged the government to implement anti-monopoly safeguards, enhance supply-chain transparency, and simplify licensing procedures for new entrants.
Gillis-Harry also commended the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) for promoting openness in the sector but called for continued collaboration to curb price manipulation and ensure fair trade practices.
Highlighting new trends in the industry, he said deregulation had driven innovation, with operators embracing digital tools, smart fuel stations, and alternative energy offerings such as LPG, CNG, and EV charging services.
He further emphasised the need for improved infrastructure—especially ports, pipelines, and roads—to enhance distribution efficiency and reduce operational costs.
“PETROAN remains committed to a competitive, transparent, and consumer-friendly market,” he said. “Our goal is to create an energy ecosystem that balances profitability with accessibility, ensuring every Nigerian benefits from the reforms.”
The association also reaffirmed its support for domestic refining initiatives and technology-driven reforms, which it believes will promote price stability, job creation, and sustainable growth in Nigeria’s downstream oil industry.
