Nigeria's Petrol Crisis: PETROAN President Calls for Refinery Privatization to Boost Economy

Petro-An president Dr Gilly Billy-Harris is advocating for the privatization of refineries as a solution to Nigeria's refining challenges. The association has requested a N100bn intervention fund to support refinery development.

The President of the Petroleum Products Outlets Owners Association of Nigeria, Dr Gilly Billy-Harris, has made a strong case for the privatization of refineries in the country. Harris has stated that privatization is necessary to boost the sector's performance and increase its contribution to the nation's economy. The association is now seeking a N100 billion intervention fund to support its members, who are facing significant financial challenges due to declining crude oil prices and increasing competition from international markets. By privatizing refineries, Harris believes that private investors can bring much-needed expertise and capital to revitalize the sector.