GistReel

The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) has revealed that petrol from the newly refurbished Port Harcourt Refinery will be sold at ₦1,030 per litre.

In a statement released on Thursday night, PETROAN spokesperson Joseph Obele stated that the Nigerian National Petroleum Company Limited (NNPCL) officially informed the association of the price, confirming that the refinery is now operational.

“NNPC Retail Ltd has officially announced the PMS price at the Port Harcourt refinery as ₦1,030 per litre. It was also communicated to PETROAN that the product request portal was open for booking/request.” Obele said.

Obele noted that PETROAN’s strategic pricing team is currently analyzing the most favourable pricing options for its members and expressed openness to sourcing products from all refineries in Nigeria.

“We are open to patronizing all the refineries in Nigeria,” he added.

PETROAN has called on NNPC Retail to reduce the price further to ease Nigerians’ financial burden during the festive season.

The announcement comes shortly after the Dangote Refinery reduced its petrol price by ₦20, bringing it to ₦970 per litre, down from ₦990.

Speaking on claims that the refinery was not working, Obele stated, “We state emphatically that the old Port Harcourt refinery is functional and producing refined ppetroleum products at the moment.

“On Tuesday, November 26, 2024, the top management of Nigerian National Petroleum Company Limited led by Mele Kyari took stakeholders and journalists to the plant with a view of having first-hand information and to see things themselves. The old Port Harcourt refinery is currently operating at 70 per cent of its installed capacity, with plans to ramp up to 90 per cent.“

Obele noted that this contradicts the speculations that the revamped refinery was a mere blending plant and unproductive.

“As part of PETROAN’s oversight function as key stakeholders, we have direct access to the plant on the authorisation of management and we will encourage whoever is doubting the functional status of the plant to contact NNPC management for facility tour rather than spreading misleading information.