PETROAN has urged Nigerians to avoid panic buying, dismissing claims that Dangote Refinery’s temporary suspension of Naira sales is causing fuel shortages.The association reassured the public that NNPCL’s functional refineries, modular refineries, and importers are ensuring steady supply.
It emphasized that there is no fuel shortage and urged calm, as the government remains committed to maintaining seamless petroleum distribution.PETROAN reassured the public that panic buying is unnecessary, as the government ensures a stable fuel supply.Spokesperson Joseph Obele emphasized PETROAN’s support for local production to boost energy security, jobs, and economic growth.
However, recognizing local output may not meet demand, PETROAN advocates keeping fuel imports open to maintain stability, competition, and fair pricing.PETROAN clarifies that the Naira-for-Crude initiative is under review, not terminated. It urges the government to consider stakeholders’ interests in policy decisions.Meanwhile, PETROAN President Dr. Billy Gillis Harry opposes selling petroleum products in dollars within Nigeria.
Gillis Harry warns that dollar transactions in Nigeria could harm the economy and worsen inflation, urging all trade to remain in Naira.He calls for a review of the Petroleum Industry Act (PIA) to address industry challenges and boost investment. PETROAN also commends the government for allowing market-driven fuel pricing to prevent monopolies and encourage competition.
