The Nigerian National Petroleum Company Limited (NNPCL) confirmed on Wednesday that a minor fire incident at the Port Harcourt Refining Company (PHRC) was quickly contained and has not caused any disruptions.
NNPCL spokesman Olufemi Soneye clarified in a statement that reports of an explosion at the refinery were false. Following the incident, he reassured the public that the plant remains operational and continues to produce refined petroleum products to specification.
“The recently rehabilitated plant is fully functional, and there is no cause for concern,” Soneye added.
In November 2024, after extensive rehabilitation, NNPCL announced the Port Harcourt refinery had resumed production. Additionally, in February 2025, the company reduced its petrol retail price from ₦945 to ₦860 in Lagos, with similar reductions at its outlets nationwide. This price drop was in response to the reduction of the ex-depot price of petrol from ₦890 to ₦825 per litre by the Dangote Refinery.
Economist Paul Alaje commented on the price reduction, stating that Nigerians should welcome the ongoing competition between NNPCL and Dangote Refinery. “As long as the competition continues, prices should remain competitive,” Alaje said. “If either company exits, however, be prepared for petrol prices to exceed ₦1,000 per litre again.”
In other news, NNPCL has ceased the sale of crude to Dangote Refinery in Naira.
