Protecting our domestic refiners

The subtle warfare of interests betwixt home refiners of petroleum products and their counterparts who import aforesaid is mean successful a liberalised system similar ours. The letters and tone of the Petroleum Industry Act, PIA, 2021 mean that some should beryllium broadside by side, and this has ensured adequate, reliable and sustainable petroleum products availability, though the prices stay outrageous, compared to the play earlier afloat withdrawal of subsidies.

The home refiners nether the umbrella of Crude Oil Refiners Association of Nigeria, CORAN, precocious started lobbying the National Assembly done the Senate Committee connected Downstream Petroleum Sector, to guarantee the imposition of a 25 per cent tariff connected imported products to support the investments of their members.

CORAN is made up of astir 20 members, mostly modular refinery owners. These see Waltersmith (Ibigwe/Owerri), Aradel Holdings (Onne), OPAC (Ikot Abasi), Edo Refinery, Dupont Midstream and others. This advocacy, if granted, volition besides greatly payment our flagship, planetary giant, Dangote Refinery.

The Association argued that upstart home refiners request to beryllium protected from “dumping” of inexpensive and sometimes inferior products successful the marketplace conscionable to undermine their members. They pointed retired the request to support billions of dollars investments, arguing that their telephone for 25 per cent tariffs connected imported products is successful our wide nationalist economical interest. It is besides successful enactment with President Bola Tinubu’s “Nigeria First” policy, which is powerfully successful enactment of section manufacturing up of importation.

Back successful May 2025 erstwhile the Nigeria First argumentation was announced by the Minister of Information and National Orientation, Mohammed Idris, the Petroleum Products Retail Outlet Owners Association of Nigeria, PETROAN, had opposed outright prohibition connected importation of petroleum products. They pointed retired that galore home refiners are caller successful their commercialized and should beryllium fixed clip to maestro their art, adding that a prohibition could pb to epileptic supply.

Our presumption connected this substance is that the involvement of the consumers indispensable beryllium paramount successful government’s determination making. We privation the existent inclination of unfettered proviso and merchandise availability to continue, portion efforts astatine ensuring the dependable lowering of prices should beryllium prioritised. This should beryllium the superior nonsubjective of Nigeria First.

We besides enactment efforts to support home refiners. If a measurement of tariff imposition volition springiness them an edge, past fto it beryllium done, but with caution. They are creating worth and employment. Let america emulate President Donald Trump of America’s usage of tariffs to lure offshore American manufacturers and overseas investors to physique their plants successful America to debar tariffs.

This is the lone mode we tin execute our nationalist nonsubjective of making Nigeria the determination notation constituent successful each aspects of the petroleum economy.

We indispensable prioritise the extortion of home refiners.

The station Protecting our home refiners appeared archetypal connected Vanguard News.