The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has raised concerns over a ₦75 per litre price disparity between petrol produced by the Port Harcourt Refinery and the Dangote Refinery. While Dangote Refinery sells petrol at ₦970 per litre, the Nigerian National Petroleum Company Limited (NNPCL) offers its product at ₦1,045 per litre, significantly affecting market competitiveness.
Speaking during the reopening ceremony of the Port Harcourt Refinery, which now operates at a capacity of 60,000 barrels per day, PETROAN’s Public Relations Officer, Dr. Joseph Obele, commended the refinery’s revival but cautioned about the pricing’s adverse impact on marketers and consumers.
Obele highlighted that the Group Chief Executive Officer of NNPCL, Mele Kyari, has assured stakeholders of efforts to harmonize prices to ensure a level playing field.
The reopening of the refinery marks a critical step in reducing Nigeria’s dependency on imported petroleum products. However, industry watchers urge comprehensive reforms to address pricing challenges and stabilize the downstream petroleum sector.
