Nigerians are grappling with the impact of the recent fuel price hike, as well as lingering concerns about petrol scarcity. This post provides the latest updates on fuel availability, price trends, and reactions from key stakeholders and citizens.
Peter Obi Calls for Clarity on Petrol Prices and Refinery Operations
Former presidential candidate Peter Obi has urged the federal government and the Nigerian National Petroleum Company Limited (NNPCL) to ensure transparency and accountability in the oil sector.
Reacting to the operational restart of the Port Harcourt Refinery, Obi commended NNPCL for revamping the facility. However, he emphasized the need for tangible benefits, such as reduced petrol prices, to be felt by Nigerians.
In a statement on his X handle, Obi stated:
“While the commencement of oil production at the Port Harcourt Refinery is commendable, Nigerians deserve to see its positive impact on pump prices and the economy at large.”
NNPCL Trucks Begin Loading Petrol at Port Harcourt Refinery
NNPCL confirmed the resumption of operations at the Port Harcourt Refinery, marking a major step toward Nigeria’s goal of self-sufficiency in petroleum refining.
Currently, only NNPCL trucks are loading petroleum products from the refinery. According to Abubakar Maigandi, Chairman of the Independent Petroleum Marketers Association of Nigeria (IPMAN), independent marketers have yet to be included in the distribution chain.
Maigandi explained:
“We are excited about the refinery’s restart, but we are yet to be invited. For now, we are sourcing products from the Dangote Refinery.”
Potential Price Reductions as Refinery Operations Resume
Marketers are optimistic that the resumption of petrol production at the refinery will create competition, ensuring product availability and potentially driving down prices.
The National Public Relations Officer of IPMAN, Olanrewaju Okanlawon, noted:
“While the current petrol price remains unchanged, the refinery’s operational restart is expected to lead to a gradual reduction in prices.”
Reports indicate that about 100 trucks were lined up to load petrol, diesel, and kerosene from the refinery as of Thursday. This signals a significant increase in product distribution and a move toward stabilizing supply chains.
Significance of Port Harcourt Refinery’s Restart
Eleven months after its mechanical completion, the Port Harcourt Refinery has resumed crude oil processing, with an initial capacity of 60,000 barrels per day.
During a ceremony marking this milestone, NNPCL Group CEO Mele Kyari described the achievement as monumental, stating:
“The refinery’s restart is a major leap toward energy independence and a demonstration of Nigeria’s commitment to addressing its fuel challenges.”
What Nigerians Can Expect
- Increased Supply: The restart of the Port Harcourt Refinery will boost the availability of Premium Motor Spirit (PMS) and other petroleum products.
- Potential Price Reduction: With increased competition, petrol prices may decrease in the coming weeks.
- Gradual Inclusion of Marketers: As operations stabilize, independent marketers are likely to join the distribution chain, enhancing accessibility across the country.
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