The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) has confirmed that the Port Harcourt refinery will sell its petrol at N1,030 per litre, as reported by the Nigerian National Petroleum Company Limited (NNPCL).
The announcement was made in a statement issued on Thursday night by PETROAN spokesman, Joseph Obele.
Obele explained that NNPC Retail Ltd had officially communicated the price of Premium Motor Spirit (PMS) at the refurbished Port Harcourt refinery, adding that the product request portal is now open for bookings. He noted that PETROAN’s strategic pricing team is currently reviewing the most favorable pricing options for its members and expressed the association’s willingness to engage with all Nigerian refineries.
PETROAN also called on NNPC Retail to consider further reducing the price to provide Nigerians with a more affordable fuel option for the upcoming holiday season. This comes after the Dangote refinery recently announced a N20 reduction in PMS prices, dropping from N990 to N970 per litre.
Addressing concerns over the refinery’s functionality, Obele firmly stated that the Port Harcourt refinery is operational and producing refined petroleum products. He referenced a site visit on November 26, 2024, where NNPC management, led by Mele Kyari, hosted stakeholders and journalists to witness the refinery’s operations firsthand. According to Obele, the refinery is currently operating at 70% of its installed capacity, with plans to ramp up production to 90%.
Ongoing misconceptions about the refinery being a mere blending plant were also addressed. Obele clarified that the functional plant in operation is the old Port Harcourt refinery, with a capacity of 60,000 barrels per day, while the new refinery, with a capacity of 200,000 barrels per day, is still under rehabilitation. Both refineries are located within the same complex at Alesa Eleme, Rivers State.
Further confirmation of the refinery’s operations came from a recent visit by the Senate Committee on Petroleum Resources, led by Senator Kawu Sumaila, who, along with stakeholders and the host community, observed the plant in full operation. During the visit, PETROAN’s national leadership, including National President Dr. Billy Hary, welcomed the committee and expressed the association’s readiness to begin loading at the refinery.
Obele also expressed PETROAN’s support for the planned privatisation of Nigeria’s refineries, provided the process is transparent and involves a reputable private firm with the necessary financial and technical expertise.
Lastly, Obele raised concerns about the deteriorating condition of the Eleme East-West road, which poses a significant risk to the safe transportation of petroleum products from the refinery. He urged the Federal Ministry of Works to expedite repairs to ensure the safety of petroleum trucks and protect lives and property.
