The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) has expressed confidence that the crude oil production projection contained in the 2026 federal budget is achievable.
The association’s Public Relations Officer, Dr. Joseph Obele, stated this in a statement where he described the production target of 1.8 million barrels per day as strategic and capable of repositioning Nigeria’s economy.
Dr. Obele noted that achieving the target would require sustained efforts, particularly in the area of community engagement, to safeguard oil infrastructure and significantly reduce production losses caused by vandalism and insecurity.
He also reiterated PETROAN’s call for the privatization of Nigeria’s refineries, stressing that such a move would help reposition the downstream sector, enhance operational efficiency, and improve overall performance within the industry.
According to him, private sector involvement in refinery operations would strengthen supply chains and contribute to long-term stability in the petroleum sector.
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