Just last week it was revealed that large scale importation of Premium Motor Spirit (PMS) still occur in Nigeria following inadequacy of in-country refining capacity.
This revelation made by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NDMPRA) shows that the country’s three operational refineries contribute less than 50 per cent of the nation’s daily petrol consumption.
According to the regulator, despite having refining capacity of 985,000 barrels per day, by the three operational refining plants, the significant shortfall is augmented with importation.
The agency said Nigerians currently consume 50 million litres of petrol daily.
The NMDPRA chief executive, Farouk Ahmed, said this at a press conference on Wednesday in Abuja.
He noted that the agency operating under the provisions of the Petroleum Industry Act 2021, has been granting import licences, emphasising that without these imports, there would have been a fuel shortage.
In 2024, two refineries, the 210,000 barrels per day capacity Port Harcourt refinery, and the 125,000bpd Warri refinery, operated by the Nigerian National Petroleum Company Limited (NNPCL), began operations after decades of being offline.
Earlier in the year, the 650,000bpd Dangote refinery also commenced operations to the delight of Nigerians.
Although officials of these refineries have claimed that the facilities were working at advanced levels of production supplying products to Nigerians, Ahmed, represented by the executive director, Distribution System, Storage, and Retailing Infrastructure, Ogbugo Ukoha, indicated the country was still heavily dependent on petrol imports with over 50 per cent coming in from foreign countries.
He said this is despite the national consumption of the product reducing from an average of 66 million litres per day to 50m/d following the removal of the petrol subsidy.
Farouk noted that none of the owners of these refineries have imported petroleum products this year.
He said, “All of us experienced a Yuletide free of petrol scarcity. And let me just reconfirm that from year to year, we saw an increase in the demand for PMS from 2021, 2022, up to 2023, just before the current administration came in. The daily PMS supply sufficiency was always in excess of 60 million per day.
“Averaging about 66 million a day for PMS. And following Mr President’s withdrawal of subsidy, the announcement of May 29, 2023, we immediately saw a steep decline in consumption. And between then and as we speak, we have continued to do plus or minus 50 million litres a day. Of these 50 million litres averaging for each day, less than 50 per cent of that is contributed by domestic refineries. And so the shortfall by the PIA is sourced by way of imports.”
“Let me also say that none of the oil marketing companies, the companies that own refineries in the country for this year have imported any PMS. The other OMCs are the ones that are importing the shortfall. And if we do nothing to bridge that shortfall, we will have scarcity in our hands.
“And that’s something that the regulator is mindful of, to ensure that there is sufficient supply of petroleum products across the country. So just for clarity, what I am saying is that the contribution of local refineries towards sufficiency is less than 50 per cent. That is between January and February 2025, is less than 50 per cent of what we require daily. And that shortfall is sourced by way of imports.
“Even though none of the OMCs that own the local refineries have imported PMS this year, we are also minded that if we find ourselves in the situation that the PIA described where you have to resort to the supplier of last resort, we will go to them and require them to bridge the gap. Never mind the fact that every OMC has a right to apply to the authority.”
The NMDPRA said all the petroleum products imported to the country this year are of standard quality.
He said the NMDPRA always insists that all petroleum products meet the specifications of the Standard Organisation of Nigeria and the Petroleum Industry Act 2021.
According to him, the authority does not permit the distribution of products that fall short of quality standards.
Ukoha said some people have been releasing bogus claims concerning product quality on social media.
“People who dabble within the social media space must be reminded that it is disrespectful if you imagine that Nigerians are gullible,” he stated.
Dangote’s Export Market
Experts have expressed concerns over the revelation government that Nigeria’s Dangote Refinery confirmed late last year that it has made its first export of petrol to Cameroon, a milestone that could pave way for regional energy integration and help stabilise fuel prices across the region.
The 650,000 barrel refinery built by Nigerian billionaire Aliko Dangote in Lagos aims to compete with European refiners when operating at full capacity and is expected to change trading of refined products in the Atlantic basin.
The company did not provide details of how much was exported.
Cameroon’s energy firm Neptune Oil said in the statement that both companies were exploring new initiatives to establish a reliable supply chain that will help stabilise fuel prices and opportunities across the region.
Neptune Oil said the petrol supply transaction was executed without intermediaries.
Dangote insists that Nigeria must enhance its crude oil production capacity and effectively manage its crude supply to ensure adequate feedstock for domestic refineries, in order to transit from a net importer to a net exporter of petroleum products.
Chairman of Dangote Refinery and Petrochemicals Company Limited, Aliko Dangote, made the assertion during his keynote address at a summit held in Lagos by the Crude Oil Refinery Owners Association of Nigeria (CORAN).
The event attracted top government officials and key stakeholders from the midstream and downstream sectors.
Addressing Nigeria’s potential as a refining hub, Dangote expressed concern that, despite producing over 3.4 million barrels of crude oil per day, Africa imports around 3 million barrels of petroleum products daily. He noted that these imports, primarily from Europe, Russia, and other regions, are estimated to cost approximately $17 billion in 2023. He urged that Nigeria could capitalise on this situation to become a net exporter of refined petroleum products, as the markets would be more competitively served from Nigeria.
“Both the crude oil and the petroleum products will travel shorter distances. The logistics costs of floating storage will be eliminated, and countries can purchase their petroleum product requirements just-in-time. Nigeria and Africa can become completely self-sufficient, and we can keep all the value on our shores. We have done it in cement, and we can certainly do it for petroleum products.
“It is worth noting that the Dangote Refinery already produces sufficient diesel and jet fuel to meet Nigeria’s demand. We recently started the production of PMS and will soon ramp up to meet Nigeria’s needs. Our refined products have been exported to diverse markets, including Europe, Brazil, the UK, the USA, Singapore, and South Korea,” he added.
Represented by Engr. Mansur Ahmed, Group Executive Director of Dangote Industries Ltd, Dangote emphasised that Nigeria must develop a refining capacity of 1.5 million barrels per day and prioritise domestic crude supply obligations to seize this opportunity. Acknowledging the arising and future challenges, he urged the government to incentivise investors, contrasting this with the Dangote Oil Refinery, which was built without any government incentives.
“It is unfortunate that while countries like Norway are putting oil proceeds into a future fund, in Africa, we are spending oil proceeds from the future. We will also need to prioritise the implementation of domestic crude supply obligations. We will need to expand our crude oil production capacity to support demand from new refining capacity. The government of President Bola Ahmed Tinubu is taking active steps to achieve this through fast-tracking IOC divestments and other initiatives,” he stated.
Emphasising that global developments in the petroleum sector, particularly in Europe, will disrupt historical trade flows for refined petroleum products in Africa, Dangote stated that Nigeria is uniquely positioned to capitalise on this opportunity and become a significant player in the global oil industry. He called for consultation, collaboration, and cooperation among stakeholders.
“As a vibrant exporter of refined products, Nigeria will witness an improvement in its balance of trade and generate much-needed foreign currency. Nigeria’s potential as a refining hub is clearly not in doubt; let us work together to make it happen,” he urged.
The foremost industrialist noted that the summit’s theme: “Making Nigeria a Net Exporter of Petroleum Products,” would have seemed unrealistic a few years ago, and added that despite being Africa’s largest crude oil producer, Nigeria has historically relied on imports to meet its refined petroleum product needs.
However, he emphasised that the Dangote Petroleum Refinery and Petrochemicals is poised to transform Nigeria from a “net importer” to a “net exporter” of refined petroleum products, establishing the country as an emerging player in global downstream trade flows; with refined products already exported to various markets, including Europe, Brazil, the UK, the USA, Singapore, and South Korea.
Commending Dangote for this transformation, hairman of IPPG/Waltersmith Refinery & Petrochemicals Co. Ltd, Abdulrazaq Isa, called on the government to support domestic refiners by ensuring the availability of crude, adhering to domestic crude supply obligations, and implementing effective pricing and monitoring measures to prevent smuggling.
Chairman of CORAN’s Board of Trustees and CEO of Integrated Oil & Gas, Captain Emmanuel Iheanacho (rtd), remarked that the Dangote Oil Refinery has set a high standard by producing Euro-V products, thus protecting citizens from exposure to high-sulphur products. He noted that transforming Nigeria into a net exporter will bring numerous benefits but reiterated the need for increased investment to boost crude production, lamenting that Nigeria loses approximately $83 billion annually by not meeting its OPEC quota.
While acknowledging that tank farms remain essential despite local refining, Iheanacho urged the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), to consider cancelling import licences, as Nigeria can now meet its local demand.
Chairman of Major Energies Marketers Association of Nigeria (MEMAN), Huub Stokman, stated that Nigeria is on the verge of becoming Africa’s refining powerhouse, which will significantly boost the economy. The Chairman of CORAN, Momoh Oyarekhua, also expressed concern over challenges related to crude supply and stated that domestic refiners will work with regulators and stakeholders to address these issues.
The Minister of State for Petroleum Resources (Oil), Senator Heineken Lopkobiri, assured that the government would continue to refine frameworks to enhance crude production and support domestic refineries. –
Providing More Export Details
Dangote refinery reportedly agreed to export more than 200,000 mt of its petrol as local demand for costlier, higher quality fuel has disappointed stakeholder expectations.
Speaking to S&P Global Commodity Insights November 11, last year, an executive at the refinery confirmed that the refinery had signed its first export orders for its gasoline and will begin dispatching product “as soon as the ships arrive”.
Championed as a project to end Nigeria’s import dependence for fuel, the 650,000 b/d refinery had been widely expected to market all of its petrol domestically to service roughly 340,000 b/d of local demand.
However, since beginning petrol production in September and significantly improving the quality of its fuel in October, rising prices have meant the refinery has struggled to shift its supply.
Facing a fivefold increase in prices at the pump from the previous year, Nigerians warned that fuel affordability has been severely challenged, while the regulator, the NMDPRA, said in August last year that demand could drop by as much as a quarter year-on-year.
On October 29, Aliko Dangote complained that the refinery was wasting money holding over 500 million liters (around 3.1 million barrels) of fuel in storage, while the company has blamed illicit low-quality imports for undercutting its prices and threatened to sue state oil company NNPC for continuing its fuel imports.
In the first week of November, the refinery made its first attempt to sell petrol abroad, issuing a public tender for the fuel type, but later appeared to bow to public pressure by revoking the offer.
Three West African traders said the refinery initially issued a tender to sell 40,000 mt of petrol, which two confirmed specified product with a sulfur content of 150 parts per million.
One source said that the refinery had called the initial tender a “mistake”, while a second called the move “controversial” while Dangote continues to produce less than a third of Nigeria’s domestic gasoline demand.
The refinery official confirmed that the 40,000 mt tender had been canceled, but said November 11 that the company had the surplus product to begin exporting. “We have the stocks,” he said.
Sustained Export
Since starting operations in January, Dangote has sold its diesel, jet fuel and other products on the global market, mostly via traders Vitol and Trafigura and international energy company BP, according to S&P Global Commodities At Sea data.
Initially, it agreed an exclusive supply agreement with NNPC for its petrol, but by November 4 had also begun selling to local marketers, the refinery management said.
The refinery has reported that its petrol meets quality standards with a sulfur content of below 50 ppm, marking a significant improvement for the Nigerian market, for which 500 ppm was still the standard in late 2023.
The improved fuel quality has added upside to domestic retail prices, but has also meant that more prospective buyers are lining up for supplies.
Speaking on the sidelines of African Energy Week, Mustapha Abdul-Hamid, CEO of Ghana’s National Petroleum Authority, said November 7 that Ghana is interested in potential petrol imports from the refinery, which was previously producing above its 50 ppm national standard.
“Now it’s able to do 50 ppm it definitely should be cheaper to buy out of Nigeria than from Rotterdam,” said Abdul-Hamid, venturing that supplies could be blended with 500 ppm product from Ghana’s Tema refinery.
Traders have also expressed interest in routing the product to regional West African shorts or destinations such as New York, which could present attractive arbitrage opportunities from Nigeria.
Sources speculated that closer ties between the refinery and the Caribbean, evidenced by a recent state visit by the Prime Minister of Grenada and chairman of the Caribbean Community (CARICOM), could also translate to a potential term contract.
A representative for the Dangote Group said the partnership will initially focus on trade opportunities for its cement business, though officials had previously hinted that the business would be open to crude-for-products deals with its Caribbean counterparts.
Just last week president of Dangote Industries Limited (DIL), Aliko Dangote revealed that his Petroleum Refinery has enough Premium Motor Spirit (PMS otherwise known as petrol) in storage to sufficiently meet the local needs of Nigeria.
Dangote disclosed that the oil refinery has “more than half a billion litres of petroleum and over 600 billion Naira worth of products in its tanks.
Dangote said, “…as we speak right now we have more than half a billion litres. The Refinery is producing enough refined products, like gasoline, diesel, and kerosene, to meet 100 per cent of Nigeria’s requirements.
Speaking after a tour of the Refinery complex by a Zambia Government delegation, led by the country’s Minister of Energy, Mr. Makozo Chikote, Dangote stated that the refinery project, like other projects in the past, is not for Nigeria alone.
“This refinery is not only for Nigeria; it is for Africa. We must sustain the African Continental Free Trade Area (AfCFTA) deal. We are trying to see how we trade with other African countries
The Zambian Minister of Energy said his takeaway from the Dangote Refinery working visit was that the President, Aliko Dangote, is truly focused on the bigger picture for Africa.
Chikote, who led a delegation of energy experts to the Dangote Petroleum Refinery to partner Zambia on energy solutions, expressed satisfaction and readiness to work with the African manufacturing giant.
After a tour of the Dangote complex at the Free Trade Zone, Ibeju Lekki, starting from the Single Point Mooring to the Dangote Jetty, the biggest fertiliser plant in Africa and the 650,000bpd largest single-train refinery in the world, the Minister enthused that the presentation by the Vice President, Oil and Gas of Dangote Industries Limited, Mr. Edwin Devakumar, made their hearts “jump”. He stated that the presentation speaks to the challenges of his country, Zambia.
The energy minister added, “In Zambia, we created an environment for the private sector to participate in the growth and development of our country. Currently, 100 per cent of our petroleum is done by the private sector.
“We are targeting increased productivity in mining, agriculture, and other sectors. Your presentation is an immediate solution to our energy needs. We are trying to promote competition among our private players
“We are looking at Dangote coming on board, which would lead to efficient, reliable, quality, and competitive products, and we want these done like yesterday.”
“Coming to the Dangote Petroleum Refinery, we have learned so many advantages of bringing many players for competition, which has improved the lives of the citizens.”
According to him: “From what we have seen, we need to promote trade within Africa to promote each other. We need these countries together to make Africa efficient, and a reliable trade hub.
“We have seen here that we can learn from what Dangote has done, and this would lead Africa and Africans to stand on their feet and not depend on overseas support in terms of trade. I believe going forward that people have learned a few lessons. The one lesson I have learned from this visit is that Dangote looks at the bigger picture for Africa.”
Another member of the Zambia delegation, Samuel Maimbo, the Vice President of Budget, Performance Review, and Strategic Planning at the World Bank Group, presently campaigning for the presidency of the African Development Bank (AfDB), explained that there is not enough development aid to develop Africa.
“There is also not enough government funding to develop Africa. The only way we can finance Africa’s growth at a pace and scale that solves our problem is by working through the private sector, which is why we are here today, to learn and to see what an ambitious programme looks like,” he stated.
He added that it is only the private sector that can help develop the continent of Africa.
The Vice President of Dangote Industries Limited, Edwin Devakumar stated that the Refinery produces the best quality products as its core business strategy.
“The project concept was to process the crude from Nigeria and add value. But we also wanted to provide some flexibility to process most of the African crudes and some of the Middle Eastern crudes,” Edwin said.
He added “In another concept, what we did was maximum value extraction. That is a process where every barrel of crude which goes in, the value addition should be the best.”
According to Edwin, “the Refinery can meet all our requirements. 44 per cent can meet the entire requirements of Nigeria, and 56 per cent of the production would be exported. Every day, we produce lighter products of 104 million litres; 57 million litres of petrol every day; 20 million litres of jet fuel; and 27 million litres of diesel production.
“The local consumption is just around 46 million litres, and the remaining 58 million litres will be exported daily,” he added.
Nigeria’s Import Substitution Foul Fuel Drama
At the turn of events, viral video showed up claiming some petrol in circulation is bad.
It was being alleged that the NNPCL was involved.
However the NNPCL is vexed over the complexity and in a state of quandary as the drama of foul fuel from its supply chain brings the entire downstream petroleum industry into a state of perplexity.
The perplexing problem has pushed the Group Chief Executive Officer (GCEO) of the Company, Mr. Mele Kyari, to flay talks about the existence of sub-standard fuel in the country.
Kyari, described it as unfortunate drama and bad marketing practice as he fielded questions at a fireside chat during the 60th Nigeria Mining & Geosciences Society (NMGS) Conference in Abuja.
The GCEO, said the NNPC Ltd, and indeed the country does not have any issues of quality in the Premium Motor Spirit (PMS) also known as petrol across the country.
“The talk around fuel quality is unfortunate and a very bad marketing practice. It’s all drama and entertainment and as we know, drama has a way of entertaining the people,” Kyari stated.
He said Premium Motor Spirit (PMS) has quality standards which are obtainable in every country and there are no two countries that have the same standards.
Kyari said in Europe, oxygenate (a fuel additive) has to be introduced into PMS otherwise it will solidify the tank in people’s cars.
But if the same fuel additive is introduced into cars in Nigeria, it turns to water once it gets into contact with air. In essence, Kyari said, what is required by law to be introduced in one country, it is also required by law not to be introduced in another country.
He added that in the case of Nigeria, the country has standard regulatory agencies such as the Standard Organisation of Nigeria (SON) and the Nigerian Midstream & Downstream Regulatory Agency (NMDPRA), whose job is to ensure that every product that comes into this country meets the required products specifications and standards.
“I believe these regulatory agencies are doing their job. They have not come back to tell anyone that we have substandard products in the country,” Kyari told the audience.
He said the Company has already taken the necessary legal and security steps to ensure that people (behind such video) don’t mess up the country, adding that the implications of such acts are not only on NNPC Ltd anymore but more about messing up the whole country.
Kyari, who maintained that people can have their frustrations, cautioned that
falsehood should never be extended into business.
The GCEO also debunked reports claiming that NNPC Ltd has imported 200million litres of fuel in February this year.
“These are just lies, because we didn’t even import products within that window
that the report was published. All the mischief about aligning this fictitious
importation with the so-called low-quality fuel are just baseless,” he stated.
He explained that importation is a normal practice in the Industry, as every country imports petroleum products, including the United States. He said Nigeria has supplied petroleum products to countries such as Saudi Arabia and the UAE, which doesn’t mean that there are no refineries in those countries.
Kyari charged members of the Nigerian Mining & Geosciences Society (NMGS) to embrace new technologies and foster a culture of continuous improvement in order to maximise the nation’s natural resources and generate more revenue for the country.
The Conference, which has as its theme “Transformation of the Mineral, Energy,
Water, and Construction Sectors through Innovation”, focused on conversations
around mining industry reforms, policy enhancements, and broader public
appreciation of geoscience’s role in national development.
Civil Society Rises In Support
The Coalition of Civil Society Groups for Transparency and Accountability in its part condemned the recent viral video alleging that fuel sold at the Nigeria National Petroleum Corporation Limited, NNPCL, filling stations burns faster than that produced by the Dangote Refinery and sold through MRS outlets.
Speaking at the press conference, the convener of the Grassroots Democratic Initiatives, Razaq Oladosu Buska and the convener of the Center Against Injustice and Domestic Violence, Gbenga Soloki, described the video as outrightly misleading, completely unfounded, and lacking any scientific or empirical backing.
It insisted that the video lacks credibility and should not be trusted by the public. It noted that the video is part of an orchestrated plan to discredit NNPCL and blackmail Nigeria’s oil and gas sector into a monopoly.
The coalition said: “This false video represents yet another desperate attempt by economic saboteurs to misinform the public and tarnish the hard-earned reputation of the Nigerian National Petroleum Company Limited (NNPCL).
“It is clear that this is another in the series of calculated efforts to discredit the progress being made by the NNPC under the competent leadership of Mr. Mele Kyari.
“These usual suspects, who have in the past few months orchestrated a coordinated media onslaught and campaign of calumny against the NNPC and its leadership, are driven by their desperation to retain monopolistic control over the market and keep petroleum products beyond the reach of ordinary Nigerians.
“We can’t but remind you, that these sustained campaign became intense, when a privately owned refinery became operational in the country.
“We are pleased that the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has categorically confirmed that NNPCL’s Premium Motor Spirit (PMS), commonly known as petrol, meets the highest industry standards.
“This endorsement further exposes the video in question as a baseless and malicious fabrication intended to mislead unsuspecting Nigerians.
“Since the NNPC has successfully returned some of the nation’s refineries to functionality, these individuals, who are uncomfortable with the positive transformation occurring in the petroleum sector, have remained relentless in their attacks.
“Their ultimate goal is to undermine the progress Nigeria is witnessing under the pragmatic leadership of Mr. Mele Kyari. However, Nigerians must never fall for their deceptive antics.
“We urge all well-meaning citizens to remain vigilant and reject such misinformation aimed at derailing the advancements being made in the petroleum sector.
“Our groups stand firmly in support of the NNPC, its GCEO Mr Mele Kyari and all efforts that contribute to national development. We also caution these saboteurs that their attempts to discredit genuine progress will not succeed.
“Nigerians will continue to support every positive action that ensures the growth and prosperity of our nation.”
Dangote Refinery To Operate At 100% By March
Dangote Oil refinery, currently operating at 85 per cent capacity is expected to go 100 per cent in 30 days.
The 650,000-barrel-per-day refinery began processing crude into products, including diesel, naphtha and jet fuel, in January last year and started processing petrol in September.
It aims to compete with European refiners when operating at full capacity but had been struggling to secure sufficient crude locally.
The head of the refinery Edwin Devakumar, said it was currently operating at 85 per cent capacity and “we can go 100 per cent in 30 days.” according to Reuters.
Last year, the refinery turned to importing crude after it was unable to secure sufficient volumes despite an agreement with the Nigerian government to buy crude in the local naira currency.
It has asked for 550,000 bpd of crude for January-June this year from oil producers in Nigeria, according to the oil regulator, which has also said it would block export permits for oil cargoes from producers who fail to meet their stipulated supply quota to local refineries.
The Dangote Oil Refinery is exploring new markets for its refined products. Founder Aliko Dangote told a group of Nigerian professionals who visited last week that it was sending two cargoes of jet fuel to Saudi Aramco as part of its plans to expand.
“We are looking at all the markets right now,” said Devakumar.
Marketers Confirms Loading At NNPCL Refineries
Meanwhile, the Petroleum Products Retail Outlet Owners Association of Nigeria says its members are now loading petroleum products from the Port Harcourt and Warri refineries.
PETROAN said this is contrary to previous doubts that the refineries owned by the Nigerian National Petroleum Company Limited were not fully operational.
PETROAN’s spokesman, Joseph Obele, disclosed this in a statement on Saturday, saying, “PETROAN members are now loading petroleum products, including Dual-Purpose Kerosene, Automotive Gas Oil, and Premium Motor Spirits.”
Obele told our correspondent that the Port Harcourt refinery is already selling petrol, diesel and kerosene to retailers while the Warri refinery is supplying only diesel and kerosene.
According to him, the renovation of the two refineries has sparked intense competition that could lower the price of fuel.
“The resurgence of these refineries has sparked intense competition, expected to drive down petroleum prices. As Nigerians advocate for lower PMS prices, it is clear that competition is a crucial factor in triggering price reductions.
“The refineries’ revitalisation has brought numerous benefits, including the eradication of adulterated diesel and kerosene from the market,“ Obele stressed.
He stressed that the absence of functional refineries led to a proliferation of fake petroleum products, posing significant risks to consumers.
“With the availability of original diesel and kerosene, the demand for fake products has decreased, reducing the risk of explosions and equipment damage.
“The refineries’ functionality has also contributed to a decrease in crude oil theft, which has hindered Nigeria’s ability to meet OPEC production targets. As crude oil production increases, Nigeria is expected to generate more revenue and stabilise the naira,” he stated.
He emphasised that the revitalised refineries have created job opportunities, with deserted depots now bustling with activity, adding that the host communities are also benefiting from empowerment programmes, which are expected to positively impact insecurity and crime rates in the region.
The National President of PETROAN, Billy Gillis-Harry, was quoted as saying that social empowerment programmes for oil-producing host communities align with the provisions of the Petroleum Industry Act and the Nigeria Local Content Act.
Harry commended the Managing Director of the Nigerian National Petroleum Company Retail Ltd, Mr Hubb Stockman, “for promoting a sense of belonging among host community members.”
He advised members of the host communities and PETROAN members to support the goal attainment and actualisation of the Port Harcourt and Warri refineries, emphasising the importance of collaboration in ensuring the refineries’ continued success.
“The operationalisation of the Port Harcourt and Warri refineries is also expected to boost Nigeria’s economic growth by increasing the availability of petroleum products, reducing dependence on imports, and generating additional revenue for the government. This, in turn, will have a positive impact on the country’s GDP and overall economic development.
“Additionally, the refineries’ functionality will also enhance Nigeria’s energy security, reduce the pressure on foreign exchange, and create a stable supply chain for petroleum products. This will have a ripple effect on various sectors of the economy, including transportation, manufacturing, and agriculture, ultimately leading to improved economic productivity and competitiveness,” the statement concluded
