NIGERIA: Port Harcourt Refinery’s N1,045/Litre Price Stirs Concerns

By Onoja Baba, Nigeria

The recently rehabilitated Port Harcourt Refinery has come under scrutiny for selling Premium Motor Spirit (PMS) at N1,045 per litre—N75 higher than the N970 per litre offered by the Dangote Refinery.

The revelation has raised concerns among stakeholders, including marketers, who have been reluctant to lift products from the facility.

Dr. Joseph Obele, the National Public Relations Officer of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), disclosed this during a briefing on Wednesday.

He said: “Yes, the Port Harcourt Refinery is selling petrol for N1,045 per litre to marketers, which is N75 higher than the Dangote Refinery. This high price is why marketers are not going to pick up products from the refinery. However, the NNPCL GCEO has assured us that the price will be reviewed downward.”

The Port Harcourt Refinery resumed operations on Tuesday after years of inactivity, promising a daily supply of about 200 trucks and an initial release of one million litres of refined products.

The Nigerian National Petroleum Company Limited (NNPCL), which oversees the refinery, unveiled the revamped facility, highlighting that the old complex now operates at 70% of its 60,000 barrels-per-day installed capacity.

According to NNPCL, the refinery’s outputs include 1.5 million litres of diesel, 2.1 million litres of low-pour fuel oil, 900,000 litres of kerosene, and 1.4 million litres of Straight-Run Gasoline (Naphtha), which can be blended into Premium Motor Spirit (PMS).

While the refinery’s rehabilitation marks a significant milestone in boosting domestic fuel production, the higher price has overshadowed initial optimism.

Stakeholders have called for an urgent review to align prices with market expectations and ensure the benefits of the refinery’s output reach the public.