{"id":58944,"date":"2025-01-05T06:55:17","date_gmt":"2025-01-05T06:55:17","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=58944"},"modified":"2025-01-05T06:55:17","modified_gmt":"2025-01-05T06:55:17","slug":"oil-marketers-urge-refinery-privatization-investment-in-cng","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2025\/01\/05\/oil-marketers-urge-refinery-privatization-investment-in-cng\/","title":{"rendered":"Oil Marketers Urge Refinery Privatization, Investment in CNG"},"content":{"rendered":"<p><strong>By Adenike Lawal<\/strong><\/p>\n<p>Oil marketers in Nigeria have called on the Federal Government to privatize state-owned refineries, particularly the Warri and Kaduna refineries, with a combined capacity of 125,000 barrels per day.<\/p>\n<p>They argue that privatization will enhance transparency, competition, and efficiency in the downstream petroleum sector.<\/p>\n<p>The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), made this appeal in its report, \u201c2024 Retrospect and Outlook for 2025,\u201d presented in Abuja.<\/p>\n<p>Signed by National President Billy Gillis-Harry, National Secretary Adedibu Aderibigbe, and National Public Relations Officer Joseph Obele, the report highlights key industry challenges and recommendations.<\/p>\n<p>PETROAN stressed that private sector involvement would improve refinery operations, reduce government financial burdens, and foster a competitive market that ensures fair pricing and regulatory compliance.<\/p>\n<p>The association also called for significant infrastructure investments, including refinery upgrades, pipeline improvements, and expanded storage capacity to reduce reliance on petroleum imports.<\/p>\n<p>Additionally, PETROAN advocated for increased adoption of Compressed Natural Gas (CNG), by 2025, citing its potential as a viable alternative fuel.<\/p>\n<p>To curb petroleum product smuggling, it recommended digital tracking systems and cross-border collaboration.<\/p>\n<p>The association also requested a N100 billion grant from President Bola Tinubu to prevent business closures and job losses following fuel subsidy removal.<\/p>\n<p>While acknowledging industry progress in 2024\u2014such as the rehabilitation of the Port Harcourt refinery and the launch of Dangote Refinery\u2014PETROAN urged government action on vandalism, inadequate CNG infrastructure, and high operating costs in the natural gas sector.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Adenike Lawal Oil marketers in Nigeria have called on the Federal Government to privatize state-owned refineries, particularly the Warri and Kaduna refineries, with a combined capacity of 125,000 barrels per day. They argue that privatization will enhance transparency, competition, and efficiency in the downstream petroleum sector. The Petroleum Products Retail Outlets Owners Association of [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":58946,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-58944","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/58944","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=58944"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/58944\/revisions"}],"predecessor-version":[{"id":58947,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/58944\/revisions\/58947"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/58946"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=58944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=58944"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=58944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}