Nigeria Oil Marketers Urge FG Privatization of Refineries and Invest in CNG

Nigeria's oil marketers are urging the Federal Government to privatize state-run refineries and invest in compressed natural gas (CNG) as a more efficient alternative to gasoline, citing improved economic returns. The Petroleum Products Retail Outlets Owners Association of Nigeria made the call in a recent statement.

Nigerian oil marketers are calling on the Federal Government to privatize its state-owned refineries and invest in Compressed Natural Gas (CNG) infrastructure, as they seek to address the country's chronic fuel shortage and stabilize prices. The Petroleum Products Retail Outlets Owners Association of Nigeria made the appeal underlining the need for private sector involvement to ensure the refineries' operational efficiency and competitiveness. By doing so, oil marketers hope to alleviate the nation's reliance on imported fuel and promote a more sustainable energy mix. This move is also seen as an opportunity to boost revenue for the government through royalties and other charges.