Port Harcourt Refinery’s Petrol Price Higher Than Dangote’s, Says PETROAN
NNPCL Fuel Costs ₦75 More Per Liter Compared to Dangote Refinery
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has disclosed that the price of Premium Motor Spirit (PMS), commonly known as petrol, produced by the recently activated old Port Harcourt Refinery is ₦1,045 per liter, ₦75 higher than the price charged by the Dangote Refinery.
Dr. Joseph Obele, the Public Relations Officer of PETROAN and a former chairman of the Independent Petroleum Marketers Association of Nigeria (IPMAN) at the Port Harcourt Deport, made this revelation while speaking at the official reopening ceremony of the refinery, which is now operating at a capacity of 60,000 barrels per day.
While initially applauding the federal government for revitalizing the old refinery, Obele expressed concern over the pricing disparity between petrol supplied by the Nigerian National Petroleum Company Limited (NNPCL) and the Dangote Refinery.
“The ₦75 price differential is a steep margin for businesses, particularly for an industry where profitability hinges on competitive pricing,” Obele said.
However, Obele described the refinery’s restoration as a significant step in reducing Nigeria’s dependence on imported petroleum products. He reassured that the Group Chief Executive Officer of NNPCL, Mele Kyari, has promised to address the issue and harmonize prices to mitigate the impact on marketers and consumers.
The reopening of the Port Harcourt Refinery is expected to enhance local production capacity and reduce reliance on imports, a move welcomed by stakeholders across the sector.
