The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has urged the Federal Government and industry regulators to prioritise steady crude oil supply to domestic refineries and adopt consistent pricing mechanisms to stabilise fuel prices in 2026.
In its 2026 outlook signed by the National President, Billy Gillis-Harry, and the association’s spokesman, Joseph Obele, PETROAN said persistent challenges in the downstream sector continue to impact retail operators and fuel market stability.
The association identified irregular crude allocation, pipeline disruptions, and frequent price fluctuations as major issues eroding profit margins and creating uncertainty for retailers across the country.
“Ensuring a steady and adequate crude supply to domestic refineries is essential to support production and reduce reliance on imports. Without it, pump prices will remain high, and retail operators will continue to face losses,” PETROAN stated.
The group also assessed the naira-for-crude policy, which allows domestic refineries to pay for crude oil in naira rather than dollars, noting that while the initiative has strong strategic potential, its implementation in the previous year fell short of expectations.
According to PETROAN, delays, pricing disputes, and inconsistent crude allocations limited the policy’s effectiveness. The association stressed that improving transparency, ensuring timely allocation, and resolving pricing issues would be critical to maximising the policy’s benefits in 2026.
PETROAN concluded that addressing these structural challenges would not only stabilise fuel prices but also strengthen investor confidence and ensure sustainability across Nigeria’s downstream petroleum sector.
