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STRANGE INDEED! DOCTORS HAS PROVEN IT, SEE WHAT HAPPEN TO YOUR FACE AT EXACTLY 2AM WHILE YOUR ARE ASLEEP, A TINY ANIMAL COMES OUT FROM YOUR FACE| SEE THE WORKS IT DOES HERE.The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has called on the Federal Government to privatize the Warri and Kaduna refineries to improve their efficiency and reduce the financial burden on the government. ...Tap To Read The Full Story Here | ..Tap To Read The Full Story Here...
In a statement titled “Retrospect of Nigeria’s Oil and Gas Downstream Sector in 2024”, signed by its National President, Billy Gillis-Harry, Secretary, Adedibu Aderibegbe, and spokesperson, Joseph Obele, PETROAN emphasized the need for reforms to strengthen the downstream petroleum sector ahead of 2025.
Privatization for Improved Efficiency
The association argued that privatizing the 125,000 barrels-per-day Warri Refinery and the 110,000 barrels-per-day Kaduna Refinery by selling them to reputable private firms would significantly enhance their productivity and reduce government expenditure.
The statement read:
“Privatisation of Nigerian-owned refineries, such as the Warri and Kaduna refineries, is critical to improving efficiency and minimizing government spending. This move is necessary for a successful 2025 in the downstream sector.”STRANGE INDEED! DOCTORS HAS PROVEN IT, SEE WHAT HAPPEN TO YOUR FACE AT EXACTLY 2AM WHILE YOUR ARE ASLEEP, A TINY ANIMAL COMES OUT FROM YOUR FACE| SEE THE WORKS IT DOES HERE.
This recommendation aligns with ongoing discussions about the future of Nigeria’s refineries. In August 2024, the Nigerian National Petroleum Company Limited (NNPCL) announced plans to hand over the Warri and Kaduna refineries to private firms. While the Warri Refinery has resumed operations after rehabilitation, the Kaduna Refinery and Port Harcourt Refinery are currently undergoing overhauls.
Request for Intervention Funds
In addition to its privatization proposal, PETROAN urged President Bola Ahmed Tinubu’s administration to approve a N100 billion intervention fund. The grant, they said, would help prevent the closure of about 10,000 retail outlets struggling under the economic challenges brought on by the removal of the fuel subsidy.
The statement warned that without financial support, the sector faces significant job losses and operational shutdowns, further aggravating the economic hardship faced by Nigerians.
Historical Context and Legal Challenges
PETROAN’s call comes amidst ongoing debates about refinery management. Former President Olusegun Obasanjo recently claimed that the NNPCL rejected an offer by Dangote to manage the Port Harcourt and Kaduna refineries in 2007. However, Senior Advocate of Nigeria, Femi Falana, clarified that Obasanjo’s attempt to sell these refineries failed due to procedural lapses.
Looking Ahead
As the Nigerian government continues its refinery overhaul efforts, the proposal for privatization remains a contentious issue. While proponents argue it will boost efficiency and sustainability, critics caution against the risks of poor implementation and lack of transparency.STRANGE INDEED! DOCTORS HAS PROVEN IT, SEE WHAT HAPPEN TO YOUR FACE AT EXACTLY 2AM WHILE YOUR ARE ASLEEP, A TINY ANIMAL COMES OUT FROM YOUR FACE| SEE THE WORKS IT DOES HERE.
PETROAN’s recommendations highlight the urgency for reforms in Nigeria’s oil and gas sector, with stakeholders eagerly awaiting decisive action to address inefficiencies and economic challenges in the downstream petroleum market…..Tap To Read The Full Story Here.
