The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) has confirmed that its members have started lifting petroleum products from the Port Harcourt and Warri refineries. This development comes after concerns over the shutdown of both facilities despite their rehabilitation efforts in late 2024.
In a statement released on Saturday, PETROAN spokesperson Joseph Obele noted that retailers have begun loading dual-purpose kerosene, automotive gas oil (diesel), and premium motor spirit (petrol) from these refineries.
“The Port Harcourt refinery is already selling petrol, diesel, and kerosene to retailers, while the Warri refinery is supplying only diesel and kerosene,” Obele said.
This announcement follows reports that the Port Harcourt refinery, which resumed operations in November 2024 after a long rehabilitation process, had shut down again in December. Similarly, the Warri refinery, which restarted operations on December 30, 2024, also faced uncertainty regarding its functionality. However, the latest update from PETROAN suggests that both refineries are now operational and actively supplying products.
With fuel lifting now underway, there are growing expectations that increased supply could lead to lower fuel prices. The reopening of these refineries, along with the production from Dangote Refinery, has intensified competition in the market.
“The resurgence of these refineries has sparked intense competition, expected to drive down petroleum prices. As Nigerians advocate for lower PMS prices, it is clear that competition is a crucial factor in triggering price reductions,” Obele noted.
Additionally, he pointed out that the functioning refineries would help eliminate the circulation of adulterated diesel and kerosene, ensuring better quality fuel in the market.
Despite this development, fuel prices in Nigeria remain high, with petrol currently selling between N965 and N1,100 per litre across the country.
