The Federal Government has been urged to resume commercial activities at the nation’s public refineries to calm down nerves over sale of fuel in dollar.
The call was made by the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) on Wednesday when the Association called on the Federal Government to immediately commence full commercial production at all government-owned refineries.
The Association described them as a critical price-check mechanism against market exploitation.
The statement issued by Joseph Obele, the National Public Relations Officer (PRO) of PETROAN, quoted Billy Gillis-Harry, the National President of PETROAN, who said while the Association respects the principles of a deregulated petroleum market and the commercial rights of all refinery operators, the recent decision by Dangote Petroleum Refinery to sell petroleum products in US Dollars has further demonstrated the urgent need for multiple operational refineries to promote healthy competition, protect consumers, and strengthen Nigeria’s energy security.
PETROAN noted that a downstream market with only one dominant supplier exposes marketers and consumers to sudden pricing decisions that can significantly affect pump prices nationwide.
