Oil marketers in Nigeria are advocating for the liberalization of the downstream petroleum sector. They are calling for more companies with valid licenses to be permitted to import Premium Motor Spirit (PMS), commonly known as petrol. This appeal was made by Billy Gillis-Harry, the National President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), during his appearance on Channels Television’s The Morning Brief.
Gillis-Harry argued that increasing competition in the downstream sector would help protect Nigeria from petrol price shocks, particularly given the ongoing instability in the Middle East, which has disrupted fuel imports and caused local prices to rise above N1,200 per litre. He emphasized that while Nigeria should not rely solely on imports, a temporary liberalization of the market would ensure product availability, affordability, and competitive pricing. He stated, “We have the Dangote Refinery, which has advanced our economy, but we still need additional sources to liberalize the market and ensure healthy competition.” Furthermore, he noted that importation should not hinder efforts to pressure the Nigerian National Petroleum Corporation (NNPC) to revive local refineries or encourage more players, such as BUA and Azikel, to engage in local refining.
Gillis-Harry’s comments come in response to a World Bank report that advised Nigeria to increase fuel imports to alleviate supply-side constraints and curb inflation. The April 2026 Nigeria Development Update warned that restricted competition and trade barriers have led to rising costs, with domestic petrol prices exceeding import parity levels by approximately 12 percent. He rejected the World Bank’s perspective, asserting that Nigeria possesses capable local experts who can guide its economic direction. Additionally, he dismissed concerns regarding substandard imports, stating that regulatory checks by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) ensure product quality. He assured that PETROAN members, who are active importers, would not bring in substandard fuel. “Importation should not be a permanent solution, but it will help guarantee supply stability while we work on local refining capacity,” he concluded.
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