The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has called on the Federal Government to immediately reinstate petrol import licences, warning that limited competition in the downstream petroleum sector is driving price instability and creating inflationary risks for the country.
The association made its position known in a statement issued in Abuja by its National Spokesman, Joseph Obele, quoting National President Billy Gillis-Harry, who said the call reinforces the group’s long-standing advocacy for a liberalised and competitive downstream market structure.
PETROAN said its stance aligns with the World Bank’s recommendation that the Federal Government reinstate petrol import licences to prevent a potential rise in inflation. The World Bank had warned that continued supply rigidity, combined with rising global oil prices, could worsen inflationary pressures across the Nigerian economy.
Data from the World Bank’s April 2026 Nigeria Development Update showed that as of March 2026, petrol prices in Nigeria stood at approximately N1,275 per litre about 12 per cent higher than the estimated import parity price of N1,122 per litre, suggesting inefficiencies in the current supply structure.
Gillis-Harry argued that market liberalisation would create healthy competition among players and eventually lead to product affordability, noting that the ongoing crisis in the Middle East had affected petrol importation into Nigeria and pushed prices above N1,200 per litre.
Drawing a comparison with Nigeria’s telecommunications sector, PETROAN noted that liberalisation led to improved services, wider coverage, and reduced costs, and argued that similar reforms in the petroleum sector could deliver comparable benefits for consumers.
Among its key recommendations, PETROAN called for the immediate reinstatement of petrol import licences, the privatisation or restructuring of state-owned refineries in Port Harcourt, Warri, and Kaduna, and the commencement of operations at the Port Harcourt refinery.
The association acknowledged the Dangote Petroleum Refinery as a major milestone in Nigeria’s energy industry, but maintained that competition should be encouraged to prevent market concentration and ensure long-term sustainability.
Gillis-Harry stressed that healthy competition is not a threat to local refining, but a necessary mechanism to stabilise the market while domestic capacity continues to grow.
PETROAN urged the Federal Government, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), and NNPC Limited to urgently implement policies that encourage open market participation, remove supply bottlenecks, and ensure a level playing field for all operators in the downstream sector.
