Crude Oil Refiners Seek Affordable Petrol Prices From Port Harcourt Refinery

The successful restart of the Port Harcourt Refinery has sparked optimism among stakeholders in Nigeria’s oil industry, with calls for affordable petrol prices from the facility. Dibia Isaiah, Chief Security Officer in Alesa Kingdom, Rivers State, confirmed that operations are running smoothly, with four trucks loaded this morning.

Oil policy expert Henry Adigun hailed the refinery’s reopening as a crucial step towards addressing distribution challenges in Nigeria’s eastern market, enhancing competitiveness, and stabilizing pump prices. He stressed that multiple suppliers are essential to maintain price stability and sustainable supply.

Ibrahim Yahaya, General Secretary of the Petroleum Dealers Association of Nigeria (PEDAN), emphasized that the refinery’s output, though modest at around 40,000 barrels per day, will play a significant role in stabilizing the domestic market. He urged the Nigerian National Petroleum Corporation Limited (NNPCL) to prioritize the commissioning of the Warri and Kaduna refineries by mid-2025 to boost production by an additional 100,000 barrels daily.