The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has called on the Federal Government to urgently implement temporary intervention measures to shield Nigerians from the continuous rise in the prices of petroleum products across the country.
In recent weeks, the steady increase in the pump price of petrol has placed significant financial pressure on citizens, businesses, and the broader economy. National President of PETROAN, Dr. Billy Gillis-Harry, in a statement yesterday by National Public Relations Officer, Dr Joseph Obele stated that the ripple effects are evident in rising transportation costs, increased prices of goods and services, and a general strain on the cost of living.
He noted that while market realities and global crude oil price fluctuations may influence domestic pricing, there is an urgent need for pragmatic steps to mitigate the immediate hardship faced by Nigerians. Gillis-Harry emphasised that without timely intervention, the economic burden on households and small businesses may worsen, leading to reduced productivity and heightened economic instability.
He therefore urged FG to embark on the urgent short term interventions which include immediate intervention to provide transportation relief for Nigerians to cushion the impact of high fuel costs.
He also said FG should activate strategic intervention to boost the supply framework of the Naira-forCrude policy to enhance local refining and stabilise pricing. He called on FG to issue urgent directive to the Nigerian National Petroleum Company Limited (NNPC Ltd.) to fully restart and sustain operations at the Port Harcourt Refinery in order to dismantle monopolistic tendencies and improve domestic supply.
He added that there should be the introduction of a temporary food subsidy to ease the burden of rising food prices on citizens. Gillis-Harry called for accelerated promotion and adoption of alternative energy sources, including Compressed Natural Gas (CNG) and other gas options such as LPG, to provide more affordable and sustainable fuel alternatives for transportation and domestic use.
“Furthermore, PETROAN calls for sustained engagement with key stakeholders in the oil and gas industry to develop long-term solutions that will guarantee energy security, pricing stability, and a more resilient supply chain. “PETROAN remains committed to working collaboratively with the Federal Government and other industry players to ensure the availability and efficient distribution of petroleum products nationwide.
“While we acknowledge the ongoing reforms in the sector, we appeal for urgent and decisive action to alleviate current hardships and protect the welfare of Nigerians,” the statement added.
