Nigeria Oil Marketers Push for Privatization of Refineries and CNG Investment

Oil marketers are urging the FG to privatise government-owned refineries and invest in Compressed Natural Gas (CNG) as part of their proposal to boost the country's fuel supply.

Nigeria's oil marketers are urging the Federal Government to privatize government-owned refineries and invest in Compressed Natural Gas (CNG) infrastructure, citing the need for improved efficiency and competitiveness in the nation's refining sector. The Petroleum Products Retail Outlets Owners Association of Nigeria, representing a group of oil marketers, has made the appeal as part of efforts to boost the country's petroleum products supply chain. Privatization of refineries is seen as a key strategy to attract investment and increase productivity, while CNG investments could help diversify energy sources and reduce dependence on fossil fuels. The proposal aims to enhance Nigeria's position in the global oil market and stimulate economic growth.