The Port Harcourt Refinery, recently rehabilitated and reopened after years of inactivity, has begun selling Premium Motor Spirit (PMS) at N1,045 per litre. This price is N75 higher than the N970 per litre offered by the Dangote Refinery, raising concerns among marketers and stakeholders.
The development was confirmed by the National Public Relations Officer of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Dr. Joseph Obele.
Speaking on Wednesday, Obele said, “Yes, the Port Harcourt refinery is selling petrol for N1,045 per litre to marketers. That is N75 higher than the price from Dangote. This high price is why marketers are not going to pick up products from the refinery. But the NNPCL GCEO has assured that the price would be reduced.”
The refinery resumed operations on Tuesday, generating excitement as it marked a major milestone in Nigeria’s energy sector. However, the high cost of petrol compared to other ex-depot prices has caused hesitation among marketers, leading to questions about its competitiveness.
The Nigerian National Petroleum Company Limited (NNPCL), which oversees the refinery, announced that the plant is currently operating at 70% of its 60,000 barrels-per-day capacity. The facility has been upgraded with modern equipment, producing various petroleum products, including diesel, kerosene, and low-pour fuel oil.
The refinery has promised a daily supply of around 200 trucks, with initial output including one million litres of refined petrol. Additionally, it is producing 1.5 million litres of diesel and 2.1 million litres of low-pour fuel oil daily.
Despite these achievements, the high petrol price remains a sticking point. Industry observers are hopeful that the refinery’s management will resolve the pricing issue soon to encourage more marketers to lift products and ensure stable supply across the country.
