The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) said it will provide necessary support to renewed effort of the Government to improve gas supply to the industrial sector as that will significantly reduce production cost and create more efficiency in the sector.
National President of the Association, Dr. Gillis-Harry, said the marketing group is excited with President Bola Tinubu’s emphasis on reducing the cost of production which is particularly important because energy costs have a direct impact on transportation, manufacturing, agriculture and other productive activities.
He welcomed the petroleum and energy-related messages contained in Tinubu’s Independence Day address, describing 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.
Gillis-Harry, particularly welcomed the President’s statement that “we will use our gas to power new industries. He said 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.
The 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.
He 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.
Gillis-Harry said prolonged refinery inactivity has affected businesses, workers, contractors, transport operators and communities whose livelihoods depend on the petroleum value chain.
According to him, returning the refineries to productive operation would increase domestic refining capacity, strengthen energy security and create economic opportunities.