Nigerians Grapple with Rising Fuel Prices and Scarcity Amidst Concerns over Port Harcourt Refinery
A recent update on the petrol scarcity and price hike in Nigeria has left many wondering about the operating capacity of the Port Harcourt Refining Company. Recently, allegations surfaced that petroleum products shipped from the facility on Tuesday were not newly refined but, rather, products stored for over three years, raising more questions about the refinery’s reliability.
Timothy Mgbere, Secretary of the Alesa community stakeholders, has expressed doubts about the refinery’s actual operations, stating that six trucks of petroleum products were loaded on Tuesday, contradicting the Nigerian National Petroleum Company Limited’s (NNPCL) assertion of 200 trucks being dispatched daily.
Mgbere, who was present at the ceremony marking the plant’s reopening, described the event as largely symbolic, as full operations have not yet commenced.
Oil marketers have set conditions for their support of the newly rehabilitated Port Harcourt Refinery, specifying that refined petroleum products must be priced lower than those from the Dangote Refinery to ensure acceptable business.
The Nigerian National Petroleum Company Limited (NNPCL) has clarified that it has not officially announced prices, with the current product supply limited to its own stations. The company’s spokesperson, Olufemi Soneye, confirmed that the company is reviewing prices and has not begun bulk sales, with their purchasing portal still closed.
According to the latest figures, 105.67 million liters of petrol were imported into the country between November 23 and November 28, with many marketers considering importing supplies to meet local demand.
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has expressed concerns about the pricing of Premium Motor Spirit (PMS), using the Port Harcourt Refinery as an example. The refinery’s petrol, it seems, is priced ₦75 higher per liter than that of the Dangote Refinery.
Dr. Joseph Obele, Public Relations Officer of PETROAN, highlighted this disparity during the refinery’s reopening ceremony, commending the Federal Government for the refinery’s restoration but citing a critical pricing issue.
The Port Harcourt Refinery’s 60,000 barrels per day capacity marks a significant step towards revitalizing Nigeria’s local petroleum production.
