The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has disclosed that Premium Motor Spirit (PMS), also known as petrol, from the recently reopened Port Harcourt Refinery is N75 per litre expensive compared to that of Dangote Refinery.
This disclosure was made by PETROAN’s Public Relations Officer, Dr Joseph Obele, during the official reopening of the refinery, which resumed operations on Tuesday with a production capacity of 60,000 barrels per day.
Obele, a former chairman of the Independent Petroleum Marketers Association of Nigeria (IPMAN), at the Port Harcourt Depot, commended the federal government for revamping the refinery but expressed concern about the pricing disparity.
“While Dangote Refinery sells petrol to marketers at N970 per litre, the Nigerian National Petroleum Company Limited (NNPCL) supplies the same product at N1,045, creating a N75 per litre difference,” he stated.
Obele described the price gap as a significant challenge for businesses in the sector, where competitive pricing is crucial for profitability.
Despite this concern, he acknowledged the restoration of the Port Harcourt Refinery as a major milestone in reducing Nigeria’s reliance on imported petroleum products.
He also disclosed that Mele Kyari, the Group Chief Executive Officer of NNPCL, has assured stakeholders that steps will be taken to harmonize prices, minimizing the impact on marketers and consumers.
Recall that Tribune Online reported that Port Harcourt Refinery, one of the oil refineries owned by the Nigerian state, commenced processing crude oil production on Tuesday, as disclosed by the Chief Corporate Communications Officer of the Nigerian National Petroleum Company Limited (NNPCL), Femi Soneye.
“Today marks a monumental achievement for Nigeria as the Port Harcourt Refinery officially commences crude oil processing. This groundbreaking milestone signifies a new era of energy independence and economic growth for our nation.”
“Hearty congratulations to President Bola Ahmed Tinubu, the NNPC Board, and the exceptional leadership of GCEO Mele Kyari for their unwavering commitment to this transformative project. Together, we are reshaping Nigeria’s energy future!,” Soneye said in a statement announcing the Port Harcourt refinery back on stream.
