Business
Sell Port Harcourt, Warri, Kaduna NNPCL Refineries in 2026 – PETROAN Appealing To Nigerian Govt
The Petroleum Products Retail Outlets Owners Association of Nigeria has appealed to the federal government to sell the Port Harcourt, Warri, and Kaduna refineries run by Nigerian National Petroleum Company Limited.
The National President of PETROAN, Billy Gillis-Harry, made th request in a recent statement.
According to him, the plants would become productive if they were privatized rather than waiting for the country to resource their rehabilitation.
He decried that despite spending billions of naira on the rehabilitation of the four refineries, there has been little or no output.
PETROAN Urges Federal Government to Privatize NNPCL’s Four State-Owned Refineries by Q1 2026
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has intensified its campaign for the privatization of Nigeria’s four state-owned refineries managed by the Nigerian National Petroleum Company Limited (NNPCL), calling for the process to be transparently completed by the first quarter of 2026.
In a statement released, PETROAN’s National President, Billy Gillis-Harry, described years of heavy public investment in the refineries as a persistent failure that has yielded little to no commercial output.
He argued that continued government ownership is creating unnecessary fiscal waste and hindering progress in the downstream petroleum sector.
“Sustained public funding of the refineries has failed to deliver optimal results over the years, making private sector-led management inevitable if the country is to achieve energy security and stability in the downstream petroleum sector,” Gillis-Harry stated.
This comes amid ongoing debate over the future of the state-owned refineries.
The Group Chief Executive of NNPCL, Bayo Ojulari, had stated that the privatization of the state-owned refineries is not off the table after a successful review of the facilities.
Business
Sachet Alcohol Ban Suspended, Orders NAFDAC to Stop Enforcement Activities
The Federal Government has ordered the National Agency for Food and Drug Administration and Control, NAFDAC, to immediately halt all enforcement actions regarding the ban on sachet alcohol and 200ml PET bottle products.
The offices of the Secretary to the Government of the Federation, OSGF, and National Security Adviser, ONSA, in a joint intervention, cited grave concerns over economic stability and potential security threats as reasons for the directive.
The statement warned that continued enforcement, in the absence of a fully implemented National Alcohol Policy, could “destabilize communities, worsen unemployment, and trigger avoidable security challenges”.
According to the statement signed by Terrence Kuanum, Special Adviser on Public Affairs to the SGF, the government clarified that while the National Alcohol Policy has been signed by the Federal Ministry of Health under the direction of President Bola Tinubu, NAFDAC must refrain from sealing factories or warehouses until the policy is fully operationalized.
The statement emphasized that the current “de facto banning” of the products without a harmonized framework is creating significant disruptions.
“The continued sealing of warehouses and de facto banning of sachet alcohol products is already creating economic disruptions and poses a growing security threat, particularly given the impact on employment, supply chains, and informal distribution networks across the country,” the statement warned.
The statement further revealed that the decision was influenced by a correspondence from the House of Representatives Committee on Food and Drugs Administration and Control, dated November 13, 2025.
The letter, signed by Deputy Chairman Uchenna Harris Okonkwo, highlighted existing National Assembly resolutions that cautioned against the proposed ban.
Reaffirming a previous suspension issued in December 2025, the statement stated the need to review legislative, public health and economic factors before a final decision is reached.
“Accordingly, all actions, decisions, or enforcement measures relating to the ongoing ban on sachet alcohol are to be suspended pending the final consultations and implementation of the National Alcohol Policy and the issuance of a final directive,” the statement emphasized.
Breaking News
Naira Appreciate Against US Dollar in Continuum
The naira continued appreciation against the United States dollar at the official foreign exchange on Tuesday.
Central Bank of Nigeria data showed that the Naira further firmed up to N 1,351.02 against the dollar on Tuesday, up from N 1,354.26 traded the previous day.
This means that on a day-to-day basis the Naira gained N3.24 against the dollar.
Similarly, at the black market, the Naira appreciated by N5 to N1450 per dollar, up from N1455.
The development comes as the apex in a notice signed by its director of the trade and exchange department, directing banks to sell a maximum of $150,000 per week to licensed Bureau De Change operators.
DAILY POST reports that the country’s external reserves remained high at $47.03 billion as of 6th February 2026.
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