The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has called for stronger safeguards against monopolistic practices in the downstream oil sector, warning that fair access and open competition are vital to sustaining Nigeria’s deregulated fuel market.
Speaking at the OTL Downstream Week 2025, PETROAN President Dr. Billy Gillis-Harry said the removal of fuel subsidies in 2023 had transformed the sector, opening it to private participation but also exposing new risks.
He noted that Nigeria’s downstream market, currently valued at ₦1.2 trillion, is projected to grow steadily through 2030. However, he cautioned that dominant players and emerging mega-refineries could threaten smaller operators unless regulatory oversight is strengthened.
“Independent marketers are key to reaching underserved communities and driving local economic growth,” Gillis-Harry said. “Without fair access to supply networks, they risk being pushed out.”
He praised the Nigerian Midstream and Downstream Petroleum Regulatory Authority for promoting transparency but urged continued collaboration to prevent price manipulation and ensure equitable market access.
Gillis-Harry also highlighted new trends such as smart fuel stations, mobile delivery services, and diversification into LPG, CNG, and EV charging. He emphasized the need for digitized licensing, infrastructure upgrades, and anti-monopoly policies to support innovation and investment.
“The future of downstream energy lies in openness, competition, and inclusion,” he said, reaffirming PETROAN’s commitment to price stability and consumer protection.
