A Nation At The Crossroads: Inside Nigeria’s High-Stakes Leap Into A Post-Oil Era

The long-delayed $1.5 billion rehabilitation of the Port Harcourt refinery, backed by a syndicated loan facility from international financial institutions, was initially projected to bring the dormant state-owned plant back to full capacity after years of inactivity and at least seven missed deadlines.

According to IReporter Online, fuel production at the refinery failed to begin as previously scheduled in December 2023, with another missed timeline in September 2024.

However, a relaunch ceremony was held, during which NNPC officials toured the facility, collected fuel samples, and announced that 200 trucks of petrol would soon be dispatched daily to the Nigerian market.

President Bola Ahmed Tinubu, in marking the occasion, described the refinery’s restart as a strategic step towards energy independence, export enhancement, and economic revitalization. The Presidency also reiterated that the recommissioning aligned with the Renewed Hope Agenda’s vision of shared prosperity.

According to IReporter Online, the refinery’s performance since its relaunch has now come under scrutiny. Despite the initial optimism, a newly obtained report has revealed that the facility did not exceed 42.23 percent of its capacity during its first six months of operation. While the refinery remained active between October 2024 and March 2025—operating for 180 consecutive days—it reportedly produced more diesel than petrol blending components such as Straight-Run Gasoline and Naphtha.

The data shows a mixed output. In November 2024, the refinery produced 9.51 million litres of refined product—just 24.92 percent of its 38.16 million-litre monthly capacity. December witnessed a dramatic surge to 108 million litres, yet this accounted for only 38 percent of expected output.

The trend continued into the new year, with January output reaching 120.91 million litres (42.2 percent), February 111.81 million litres (39.1 percent), and March 100.03 million litres (35 percent), all falling significantly short of the targeted 286.2 million litres per month.

Meanwhile, the Petroleum Products Retail Outlets Owners Association of Nigeria has lauded NNPCL’s efforts, noting that members have been loading diesel and kerosene directly from the Port Harcourt facility, while NNPC retail channels handle petrol distribution.

The association, according to IReporter Online, called the refinery’s 180-day operational streak a “milestone” after over two decades of dormancy.

In a related development, Africa’s wealthiest man, Aliko Dangote, has made good on his pledge to disrupt Nigeria’s downstream oil sector. The Dangote Petroleum Refinery is set to begin nationwide fuel distribution from August 15, 2025.

The announcement comes just days after President Tinubu toured the $20 billion, 650,000 barrels-per-day Lagos-based facility.

The Dangote Group stated that Premium Motor Spirit (PMS) and diesel will be distributed across the country to marketers, manufacturers, telecom operators, and other industrial users.

As part of its distribution strategy, the company has acquired 4,000 new Compressed Natural Gas (CNG)-powered tankers and is also investing in CNG booster stations, backed by an additional fleet of 100 CNG transporters.

According to IReporter Online, this development is expected to significantly enhance fuel accessibility, reduce logistics bottlenecks, and create downward pressure on market prices, even if no formal price cut has yet been announced.

”IREPORTER REPORTS”