The Port Harcourt Refinery has resumed operations, marking a significant milestone in Nigeria’s energy sector.
Nearly 11 months after its mechanical completion, the refinery has begun delivering Premium Motor Spirit (PMS), diesel, and kerosene, along with other petroleum products into the market.
This development is expected to foster increased competition, enhance product availability, and potentially drive down fuel prices.
On Thursday, about 100 trucks were seen lining up at the refinery to load products, as confirmed by the Nigerian National Petroleum Company Limited (NNPCL).
Mele Kyari, the Group CEO of NNPCL, called the event a monumental achievement that signals a new era of energy independence and economic growth for Nigeria.
Marketers, including Clem Isong, Executive Secretary of the Major Energy Marketers’ Association of Nigeria, emphasised that greater supply could lead to reduced fuel prices, benefiting consumers.
Similarly, the Independent Petroleum Marketers Association expressed optimism that the resumption would bring stability to the market and lower prices as competition increases.
The Port Harcourt Refinery, originally commissioned in 1965 and later upgraded, now has the capacity to produce millions of litres of PMS, diesel, and kerosene daily.
The Nigerian government, under President Bola Ahmed Tinubu, has hailed the revitalisation of the refinery and directed NNPCL to expedite the reactivation of other refineries, including those in Warri and Kaduna.
