Yemisi Izuora
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), has called for an open and competitive petroleum products market.
This the Association said would promote affordable pricing and transparency in the downstream petroleum sector.
The call is coming as price of petrol continues to swing higher than expected further creating more hardship to the citizens.
National President of the PETROAN, Dr Billy Gillis-Harry, specifically stated the need to developed a Petroleum Quality Assurance and Quality Control and Price Intelligence System.
According to him, the system would track product volumes, quality and prices across the downstream sector.
Gillis-Harry said the system would enable retailers to monitor the quantity and quality of products loaded.
He said it would also provide information on the source and landing costs of products, improving transparency.
He made the call at the 2026 Annual Conference of the Association of Energy Correspondents of Nigeria on Thursday in Abuja.
He commended the Dangote Petroleum Refinery for its investment in the sector.
He, however, said other refiners and product suppliers should be allowed to participate in the market.
According to him, Nigeria cannot afford a situation where one company controls the supply of petroleum products.
He stressed the need to encourage investments in other refineries to expand domestic refining capacity.
Gillis-Harry cited the planned 25,000 barrels-per-day Azikel Refinery in Bayelsa as one of the emerging projects.
He said the project could contribute to the country’s domestic refining capacity.
The PETROAN president said competition among refineries and product suppliers would promote market-based pricing.
He added that competition would also give consumers access to affordable petroleum products.
Gillis-Harry called for stronger collaboration among upstream, midstream and downstream operators.
He said crude production, refining and retail distribution were interconnected and required effective coordination.
Gillis-Harry said PETROAN was committed to ensuring accurate dispensing of petroleum products at retail outlets.
He urged motorists to report suspected cases of under-dispensing at outlets displaying the association’s sticker.
He said the association would continue to collaborate with regulators to promote transparency and fair competition.
The regulators include the Nigerian Midstream and Downstream Petroleum Regulatory Authority and the Federal Competition and Consumer Protection Commission.
Gillis-Harry also said crude oil would remain relevant in spite of the growth of alternative energy sources.
He stressed the need for Nigeria to protect the environment while maximising the benefits of its petroleum resources