{"id":524,"date":"2026-05-18T20:06:31","date_gmt":"2026-05-18T17:06:31","guid":{"rendered":"https:\/\/zalebs.com\/news\/petroan-hails-tinubu-plan-as-new-deal-targets-restart-of-nigerias-refineries\/"},"modified":"2026-05-18T20:06:31","modified_gmt":"2026-05-18T17:06:31","slug":"petroan-hails-tinubu-plan-as-new-deal-targets-restart-of-nigerias-refineries","status":"publish","type":"post","link":"https:\/\/zalebs.com\/news\/petroan-hails-tinubu-plan-as-new-deal-targets-restart-of-nigerias-refineries\/","title":{"rendered":"PETROAN Hails Tinubu Plan as New Deal Targets Restart of Nigeria\u2019s Refineries"},"content":{"rendered":"<p>Nigeria\u2019s downstream fuel sector group has praised President Bola Ahmed Tinubu\u2019s push to revive the country\u2019s refining industry, pointing to a fresh agreement involving the state oil company as a potential turning point for domestic capacity and imports.<\/p>\n<h2>Key takeaways<\/h2>\n<ul>\n<li>PETROAN commended President Tinubu\u2019s administration for efforts aimed at revitalising Nigeria\u2019s refining sector.<\/li>\n<li>The group highlighted NNPCL\u2019s signing of a memorandum of understanding with Chinese companies to support rehabilitation, restart and expansion of the Port Harcourt and Warri refineries.<\/li>\n<li>PETROAN said the proposed technical equity partnership approach could improve operational discipline, efficiency and accountability.<\/li>\n<li>The association framed the move as a shift toward a performance-based model designed for long-term sustainability.<\/li>\n<li>It argued the initiative could help restore refining output and cut Nigeria\u2019s reliance on imported petroleum products.<\/li>\n<li>PETROAN also cited job creation as a major expected benefit from the Port Harcourt and Warri projects.<\/li>\n<\/ul>\n<h2>PETROAN lauds Tinubu as NNPCL advances refinery plans<\/h2>\n<p>The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) said it welcomed what it described as bold and strategic actions to breathe new life into the nation\u2019s refining capabilities. In a statement issued on Monday, PETROAN\u2019s spokesperson, Joseph Obele, linked the industry\u2019s outlook to recent progress by the Nigerian National Petroleum Company Limited (NNPCL).<\/p>\n<p>Obele specifically drew attention to an MoU signed by NNPCL with Chinese firms Sanjiang Chemical Company Limited and Xingcheng (Fuzhou) Industrial Park Operation and Management Co. Limited. The agreement is intended to accelerate rehabilitation, restart efforts, and expansion work for the Port Harcourt and Warri refineries.<\/p>\n<h2>A technical equity model and a shift in approach<\/h2>\n<p>PETROAN\u2019s National President, Billy Gillis-Harry, described the deal as timely and strategically important, saying it points to a new direction for Nigeria\u2019s refining sector. He argued that bringing in a technical equity partnership structure could introduce the operational discipline, efficiency, and accountability that he said were missing in earlier refinery rehabilitation attempts.<\/p>\n<p>Gillis-Harry added that the initiative marks a decisive departure from past methods that produced limited results, shifting toward a model he characterised as more performance-driven\u2014one intended to support sustainability over the long term. In PETROAN\u2019s view, the MoU is a critical step toward rebuilding Nigeria\u2019s refining capacity and easing the country\u2019s overdependence on imported petroleum products.<\/p>\n<h2>Expected impact: capacity gains and more jobs<\/h2>\n<p>Beyond capacity restoration, PETROAN said successful rehabilitation and expansion of the Port Harcourt and Warri refineries would bring broad benefits, including significant job creation. The association also reiterated that NNPCL had recently signed the memorandum of understanding with the Chinese counterpart companies to restart the Port Harcourt and Warri refineries.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nigeria\u2019s downstream fuel sector group has praised President Bola Ahmed Tinubu\u2019s push to revive the country\u2019s refining industry, pointing to a fresh agreement involving the state oil company as a potential turning point for domestic capacity and imports. Key takeaways PETROAN commended President Tinubu\u2019s administration for efforts aimed at revitalising Nigeria\u2019s refining sector. The group [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":523,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_title":"PETROAN Welcomes Tinubu Refinery Restart Plan for Nigeria","_yoast_wpseo_metadesc":"PETROAN applauds Tinubu\u2019s plan to restart Nigeria\u2019s refineries, citing an NNPCL deal as a potential breakthrough for local fuel su","mma_seo_breadcrumb_text":"","mma_seo_breadcrumb_url":"","mma_seo_breadcrumb_hide_ui":"","mma_seo_breadcrumb_labels":[],"footnotes":""},"categories":[5],"tags":[],"class_list":["post-524","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>PETROAN Welcomes Tinubu Refinery Restart Plan for Nigeria<\/title>\n<meta name=\"description\" content=\"PETROAN applauds Tinubu\u2019s plan to 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