The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) has announced that petrol from the Port Harcourt refinery will be sold at N1,030 per litre, affirming that the facility is operational as stated by the Nigerian National Petroleum Company Limited (NNPCL).
Joseph Obele, PETROAN’s spokesman, disclosed in a statement on Thursday that NNPC Retail Ltd confirmed the pricing and opened its product request portal for bookings. He noted that PETROAN is analyzing the most favorable pricing for its members and is ready to engage with all functional refineries in Nigeria.
Contrary to speculation, Obele emphasized that the old Port Harcourt refinery is producing refined petroleum products at 70% capacity, with plans to increase to 90%. He explained that this was verified during a stakeholder tour on November 26, 2024, led by NNPCL management. The older refinery, with a capacity of 60,000 barrels per day, is operational, while the new refinery, capable of 200,000 barrels per day, remains under rehabilitation and is expected to commence production soon.
Obele further confirmed that the Senate Committee on Petroleum Resources, chaired by Senator Kawu Sumaila, corroborated the plant’s functionality during a fact-finding visit. Petroleum trucks were observed actively loading at the refinery depot, dispelling doubts about its operational status.
PETROAN voiced its support for the planned privatization of state-owned refineries, urging that the process be credible and transparent. The association recommended transferring management to reputable private firms with the necessary expertise and resources.
Obele raised concerns over the deteriorating condition of the Eleme East-West road, describing it as a significant threat to petroleum truck operations. He called on the Federal Ministry of Works and RCC, the contractor handling repairs, to expedite the project to ensure safe transportation of products.
This announcement follows a recent price adjustment by the Dangote Refinery, which reduced the cost of PMS to N970 per litre. PETROAN has urged NNPC Retail to consider a similar reduction to provide Nigerians with relief during the festive season.