Petrol Retailers Excited over 180-day Uninterrupted Operations of PHRC Plant

Peter Uzoho

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has commended the federal government and the management of the Nigerian National Petroleum Company Limited (NNPC) for successfully running the revamped Port Harcourt Refinery for 180 days non-stop.

The association also advised Nigerians against engaging in panic buying of petroleum products over fear of imminent scarcity and price hike following the temporary stoppage of the naira-for-crude arrangement, reassuring that there were sufficient products available to serve the country.

National Public Relations Officer of PETROAN, Dr Joseph Obele, stated these in two separate statements issued yesterday.

He said the Port Harcourt refinery, which had been dormant for over 20 years, was revamped with a loan secured from the African Export-Import Bank (Afreximbank) and executed by Tecnimont Nigeria Limited, a subsidiary of the Maire Tecnimont Group.

He particularly commended the federal government and the NNPC for their vision and commitment to revitalising Nigeria’s refining capacity, noting the association’s belief that this achievement will have a positive impact on the country’s energy security, economy, and employment opportunities.

“PETROAN commends Tecnimont Nigeria Limited for their professionalism and expertise in delivering a world-class rehabilitation project. We also commend the host communities for their cooperation and support during the rehabilitation process.

“The refinery, which was commissioned in October 2024, has been running continuously for 180 days, up to March, a remarkable feat that underscores the effectiveness of the rehabilitation project”, Obele said.

He said PETROAN members were currently loading diesel and kerosene from the refinery, while NNPC retail marketers were loading Premium Motor Spirit (PMS) commonly known as petrol, from the facility.

According to him, this development has not only ensured a steady supply of petroleum products but has also helped to eliminate the circulation of fake kerosene and diesel in the market.

Similarly, PETROAN observed with concern the recent tension and panic buying of petroleum products across the country which was attributed to the temporary suspension of sales in Naira by Dangote Refinery, and reassured the public that that was not a justification for panic buying.

The association argued that the NNPC has two functional refineries at the moment in addition to other modular refineries, as well as importers, that are also supplying petroleum products to the market.

“Therefore, we see no reason for the threat of panic buying. We urge Nigerians to remain calm and go about their normal activities, as there is no shortage of petroleum products.

“We wish to reassure the general public that the tension leading to panic buying is baseless. The federal government, ministry of Petroleum and regulatory agencies are committed to ensuring a seamless supply of petroleum products to meet the demands of Nigerians”, Obele said.

He said PETROAN remains a strong advocate for the local production of petroleum products and believes that promoting local production will not only guarantee energy security but also create jobs and stimulate economic growth.

However, he said the association also recognises that local production alone may not be sufficient to meet the country’s demand for petroleum products.

“Therefore, PETROAN supports the position that the window for importation of petroleum products should remain open. This will ensure that the country has a stable and sustainable supply of petroleum products, while also promoting competition and keeping prices in check.

“We are optimistic that the Ministry of Petroleum Resources will continue to work in the best interest of Nigeria and come up with policies and solutions that will ensure the sustainable supply of petroleum products. “We urge Nigerians to remain calm and go about their normal activities without fear of scarcity”, Obele stated.