NNPCL Trucks Dominate Petrol Loading At Port Harcourt Refinery, IPMAN Confirms

The Nigerian National Petroleum Company Limited (NNPCL) has announced the resumption of operations at the Port Harcourt Refinery, marking a major step towards Nigeria’s goal...READ MORE…

of achieving self-sufficiency in petroleum refining.

In a statement issued on Tuesday, NNPCL expressed appreciation to Nigerians for their support, celebrating the successful restart of the Old Port Harcourt Refinery, which now processes 60,000 barrels per day, as a “landmark achievement.”

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However, in an interview with ireporteronline, Abubakar Maigandi, Chairman of the Independent Petroleum Marketers Association of Nigeria (IPMAN), noted that only NNPCL trucks are currently loading products from the facility.

He stated:
“We are pleased with the progress but have not been involved yet. At the moment, we are sourcing products from the Dangote Refinery. Pricing details remain unclear, but we are monitoring NNPCL retail stations for further updates.”

Meanwhile, experts predict that the refinery’s operations will foster market competition, potentially driving down petrol prices.

Olanrewaju Okanlawon, National PRO of IPMAN, shared optimism about price reductions, emphasizing the advantages of deregulation:
“They [NNPCL] haven’t set a price yet, but competition is starting. Increased supply typically leads to price drops. With NNPCL and Dangote both producing, we expect prices to fall, benefiting Nigerians.”