The Petroleum Product Retail Outlet Owners Association of Nigeria, PETROAN, has expressed optimism over the Nigerian National Petroleum Company Limited’s (NNPCL) call for private oil and gas firms to take over the operation of the Port Harcourt refinery.

In an interview with Media Talk Africa, Francis Dimkpa, the Rivers State Chairman of PETROAN, welcomed the move, emphasizing the potential profitability and economic benefits for the country and its host communities.

Dimkpa highlighted the need for a special Public-Private Partnership (PPP) agreement to ensure the refinery’s efficient and profitable operation, drawing parallels with the successful model employed by the petrochemical company.

He emphasized that such an arrangement would not only yield profits but also create economic value for the nation and its host communities, while also generating employment opportunities and ensuring sustainability.

With the anticipated commissioning of the Port Harcourt Refinery and the Dangote Refinery, Dimkpa foresees an increased availability of refined petroleum products, potentially leading to reduced pump prices across the country. He urged the public to anticipate an improved supply of petroleum products and emphasized the possibility of reduced prices, citing compelling economic indicators as a basis for his optimism.