Port Harcourt Refinery Petrol Price Higher Than Dangote’s by ₦75 Per Litre, Says PETROAN

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 recently reopened Port Harcourt Refinery and the Dangote Refinery. According to PETROAN’s Public Relations Officer, Dr. Joseph Obele, while Dangote Refinery sells petrol to marketers at ₦970 per litre, the Nigerian National Petroleum Company Limited (NNPCL) offers the same product at ₦1,045 per litre.

The Port Harcourt Refinery, which resumed operations on Tuesday at a capacity of 60,000 barrels per day, was hailed as a milestone in reducing Nigeria’s dependence on imported petroleum products. Dr. Obele commended the federal government for its efforts in revitalising the facility but expressed concern about the steep price differential. He noted that the margin could pose challenges for businesses in an industry where competitive pricing is critical for profitability.

Obele also disclosed that NNPCL’s Group Chief Executive Officer, Mele Kyari, has assured stakeholders that steps would be taken to address the pricing issue and harmonise rates to minimise the impact on marketers and consumers. He described the refinery’s restoration as a positive move for the sector but emphasized the importance of addressing such challenges to stabilise the downstream petroleum market.