The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has expressed support for the Federal Government's renewed effort to improve gas supply to the industrial sector. According to PETROAN's National President, Dr. Gillis-Harry, this move is expected to significantly reduce production costs and create more efficiency in the sector. He welcomed President Bola Tinubu's emphasis on reducing the cost of production, which is particularly important as energy costs have a direct impact on transportation, manufacturing, agriculture, and other productive activities.
Dr. Gillis-Harry also welcomed the petroleum and energy-related messages contained in President Tinubu's Independence Day address. He described them as an indication of the Federal Government's continued focus on using Nigeria's natural resources to support economic growth and improve the lives of Nigerians. The President's statement that "we will use our gas to power new industries" was particularly noteworthy, as Nigeria's gas resources can provide the energy needed to power industries, create jobs, reduce the cost of production, and improve the competitiveness of Nigerian businesses.
PETROAN also welcomed the President's statement that oil theft has reduced, noting that sustained progress in this area can support increased crude oil production, improve government revenue, and strengthen confidence in the petroleum sector. Dr. Gillis-Harry stressed that the transition from economic reforms to what the President described as the "age of prosperity" must ultimately be reflected in the real economy and in the daily lives of Nigerians.
Against this background, PETROAN called on President Tinubu to direct the management of the Nigerian National Petroleum Company Limited (NNPCL) to take urgent steps towards restarting and sustainably operating the nation's government-owned refineries before the January election period. Dr. Gillis-Harry said prolonged refinery inactivity has affected businesses, workers, contractors, transport operators, and communities whose livelihoods depend on the petroleum value chain.
Returning the refineries to productive operation would increase domestic refining capacity, strengthen energy security, and create economic opportunities. The call for the revival of the nation's refineries is significant, as it would also help to address the current challenges facing the petroleum sector. PETROAN believes that this move would have a positive impact on the economy and the lives of Nigerians.
In a related development, Governors in Nigeria's Northeast have called on the federal government to expedite action on the Mambila Hydropower Project. The project is expected to expand electricity generation and distribution in the region and address the security, humanitarian, and socio-economic challenges confronting the sub-region. The governors, under the aegis of Northeast Governors' Forum, made the call in a communiqué issued at the end of its 13th meeting, held in Maiduguri.
The Energy Commission of Nigeria (ECN) has reaffirmed its commitment to advancing the country's energy transition, strengthening energy security, and expanding access to clean energy as Nigeria marks its 66th Independence Anniversary. The Commission said Nigeria's energy future remains a national priority, stressing the need for sustained efforts to harness the country's energy resources to drive economic growth, improve livelihoods, and create new opportunities for citizens.
Key points
- PETROAN supports govt's plan to channel gas to industrial sector to reduce production costs.
- Govt's move to improve gas supply to industries expected to boost efficiency and create jobs.
- PETROAN calls for revival of nation's refineries to increase domestic refining capacity and strengthen energy security.
