Experts, others seek resuscitation of refineries to stabilise PMS supply, cost
Abuja, Oct. 2026 (TBL Africa) Some Nigerians and economic experts have called for the speedy rehabilitation and restart of refineries to strengthen domestic petrol supply and reduce pump prices.
The stakeholders, including motorists, traders and economic experts, made the call on Sunday in Abuja in an interview.
They said reviving the refineries would boost local refining capacity, reduce dependence on imported petroleum products and help stabilise the supply and cost of Petrol.
Mr Thomas Unongo, a commercial driver, expressed concern over the continuous rise in prices of petroleum products and the attendant burden on ordinary Nigerians, attributing it to the non-functional refineries.
Unongo regretted that the plan by the Federal Government to crash transportation fare by Oct. 1, was yielding minimal result due to high cost of petrol and the difficulty in buying Compressed Natural Gas (CNG) at refilling stations.
“I want the Federal Government to ensure that our refineries are working and at full capacity, rather than allowing only Dangote refinery to operate or marketers importing PMS.
“If the refineries are working steadily, petrol will become more affordable, and this will reduce the amount we spend on fuel every day.
“As commercial drivers, lower fuel costs will reduce our operating expenses and enable us to charge more affordable fares.
“It will also give us some relief because the high cost of fuel is taking a large portion of our daily income.
“The government should, therefore, make the refineries work and ensure regular maintenance and address whatever challenges are preventing them from operating continuously,” he said.
A motorist, Mr Friday Ogar urged the Federal Government to take urgent steps to fix its refineries so as to bring down the prices of petroleum products.
“The Dangote refinery, being a private entity, is clearly more concerned about profit and is not interested in affordability of its products.
“Nigerians deserve affordable energy cost, having been blessed with crude oil,” he said.
Speaking on the effect of high petrol prices on households and businesses, a trader, Mrs Caroline Nweke lamented on how the soaring fuel prices had affected her business, causing low productivity.
According to her, Nigeria is blessed with crude and four refineries, and it is the responsibility of the government to make it functional for the benefit of Nigerians and economic growth.
An economic expert, Mr Lawrence Nze said reviving the refineries would boost local refining capacity, reduce dependence on imported petroleum products and help stabilise the supply and cost of PMS.
“The continued non-operation of refineries forces Nigeria to rely on imported refined petroleum products.
This dependence drains foreign reserves, exposes the economy to global price volatility and contributes to inflation.
“Restoring refinery operations will reduce import bills, stabilise fuel prices, and strengthen the naira. It would also create jobs and stimulate local industries,” Nze said.
He urged the Federal Government to adopt a public-private partnership model, ensuring transparency and accountability.
He also underscored the need for independent monitoring bodies to track progress, while strict timelines and penalties for delays should be enforced to prevent the usual cycle of abandoned projects.
Also speaking, Mr Felix Odeh, an economic expert said relying on imports had made Nigeria vulnerable to external shocks, such as geo-political conflicts or supply chain disruptions.
This, he said could undermine national energy security and leave citizens exposed to sudden fuel shortages.
On why rehabilitation should be hastened, he said operational refineries would guarantee a steady domestic supply of fuel, reduce vulnerability to external crises, and enhance Nigeria’s strategic autonomy.
“The Federal Government should prioritise technical expertise over political appointments in refinery management,” he said.
The Nigerian National Petroleum Company Ltd. (NNPC Ltd.) said it was pursuing technical equity partnerships with experienced refinery operators to ensure sustainable performance of its refineries.
Chinese investors have expressed strong interest in the two refineries, although no final agreement has been signed.
The existing Memorandum of Understanding (MoU) allows the Chinese team to conduct technical studies and submit a proposal to NNPC, after which commercial and technical negotiations would begin.
