Oil marketers in Nigeria are pushing for the liberalisation of the downstream petroleum sector, calling for more companies with valid licences to be allowed to import Premium Motor Spirit (PMS), commonly known as petrol. The call was made by Billy Gillis-Harry, National President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), during an appearance on Channels Television’s The Morning Brief.
Gillis-Harry argued that increased competition in the downstream sector would help shield Nigeria from petrol price shocks, especially in light of ongoing instability in the Middle East, which has disrupted fuel imports and pushed local prices above N1,200 per litre. He said that while Nigeria should not rely permanently on imports, temporary liberalisation would ensure product availability, affordability, and competitive pricing.
“We have the Dangote Refinery, which has advanced our economy, but we still need additional sources to liberalise the market and ensure healthy competition,” he said. “Importation should not stop us from pressuring the NNPC to revive local refineries or encouraging more players like BUA and Azikel to refine locally.”
His remarks come in response to a World Bank report advising Nigeria to deepen fuel importation to ease supply-side constraints and curb inflation. The April 2026 Nigeria Development Update warned that restricted competition and trade barriers have driven up costs, with domestic petrol prices exceeding import parity levels by about 12 per cent.
Gillis-Harry rejected the World Bank’s stance, insisting that Nigeria has capable local experts who can chart its economic direction. He also dismissed fears about substandard imports, saying regulatory checks by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) ensure product quality.
PETROAN members, he added, are active importers and 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.
