Some local refineries in Nigeria are importing low-quality crude oil to cut costs, according to the Petroleum Products Retail Outlet Owners Association of Nigeria.
Speaking on Thursday, PETROAN’s National Publicity Secretary, Joseph Obele, said these refineries bring in crude with high sulphur content, which does not meet global standards.
Obele declined to name the refineries but urged them to improve their practices. He noted that the issue started after the federal government suspended the naira-for-crude deal.
He stressed that Nigerian crude is among the best in the world and warned that importing low-grade crude could reduce the quality of refined products.
PETROAN called on the government and regulatory agencies to inspect all crude imports to ensure they meet global standards. The group also urged authorities to evaluate the naira-for-crude initiative to determine the best course of action.
Obele expressed concerns that fuel prices could keep rising due to the end of the naira-for-crude deal. However, he said PETROAN remains hopeful that market competition under the Petroleum Industry Act will help stabilise prices.
To protect consumers, PETROAN plans to conduct quality tests on refined petroleum products and guide its members on where to source high-standard fuel.
