As Nigeria steps into 2026, the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has expressed strong confidence in the prospects for the downstream petroleum sector, highlighting improved product availability, growth in alternative energy sources, and the potential for stable pricing through healthy competition.
In a New Year message, PETROAN National President, Dr. Billy Gillis-Harry, extended heartfelt greetings to members, partners, and stakeholders, praising their resilience amid 2025’s challenges. “Together, we have navigated difficulties and strengthened our resolve to advance the petroleum retail sector,” he said, adding that 2026 offers opportunities for innovation, collaboration, and sustainable growth.
The association outlined bright prospects for the year, anticipating better petroleum product availability and affordability as more refineries approach completion and import coordination improves.
PETROAN noted that petroleum pricing will remain a key influencer of inflation, but stable supply, moderated prices, and efficient logistics could mitigate economic pressures.
PETROAN President while stating that Healthy competition between importers and local refiners, backed by fair regulation, is projected to stabilise pump prices, the association advocated against monopolistic practices while promoting efficiency and investment.
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In its outlook and recommendations, PETROAN urged swift action, including immediate privatisation of the Port Harcourt, Warri, and Kaduna refineries to enhance efficiency and attract investment; ensuring steady crude supply to domestic refineries; and keeping import windows open for uninterrupted supply.
It also called for fair competition over price wars, commencement of full production at Port Harcourt Refinery in Q1 2026, continuous stakeholder engagement, transparent crude allocation, strengthened upstream security to boost production to 1.6-1.8 million barrels per day, and accountability in public investments.
The message comes amid recent leadership change at the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), where Engineer Saidu Aliyu Mohammed assumed office in late December 2025, succeeding Farouk Ahmed.
Dr. Gillis-Harry wished all a prosperous and peaceful 2026, emphasising unity for a brighter future.
