The Crude Oil Refineries Owners Association of Nigeria (CORAN) has called on the federal government to urgently intervene in the recurring disruptions affecting crude oil and gas supply to private refineries, warning that the situation threatens Nigeria’s energy security and economic stability.
In a statement marking the nation’s 65th Independence Day, CORAN President Momoh Oyarekhua said continued disputes within the petroleum sector were undermining private investments and could push the industry towards collapse if not addressed swiftly.
The group stressed that no union or interest group should be allowed to block crude or gas supply to refineries in violation of existing contracts, adding that such actions jeopardize not just refinery operations but also the welfare of millions of Nigerians.
CORAN urged the government to convene a stakeholders’ meeting across the oil and gas refining value chain to design a framework that protects contracts, secures supply agreements, and encourages fresh investment in the sector.
Highlighting the contributions of local refiners, the association noted that its members have invested heavily in projects aimed at reducing Nigeria’s dependence on imported petroleum products, creating jobs, and saving scarce foreign exchange.
However, it lamented that access to feedstock remains a major obstacle, worsened by regulatory delays and actions of vested interests who benefit from fuel imports. These challenges, it said, continue to undermine the growth of local refining despite the sector’s potential to strengthen the national economy.
“The survival of private refineries is crucial to achieving energy self-sufficiency, protecting household welfare, and safeguarding Nigeria’s future,” CORAN said, insisting that government-led, transparent resolution of disputes is the only path to long-term stability.
The association maintained that decisive action would not only prevent energy instability but also send a strong message to investors that Nigeria is committed to building a reliable and sustainable petroleum industry.
