Oil marketers have outlined key conditions for utilizing the recently revamped Port Harcourt Refinery in Rivers State, operated by the Nigerian National Petroleum Company Limited (NNPCL).
One major requirement is that the refinery must offer refined petroleum products at prices lower than those of the Dangote Refinery to secure their business or they will boycott NNPCL.
In response to reports suggesting that NNPCL’s petrol price was approximately N1,045 per litre, the company clarified on Wednesday that it has not yet issued official pricing.
For now, products from the refinery are exclusively supplied to NNPCL retail stations.
NNPCL spokesperson Olufemi Soneye stated that bulk sales have not begun as the pricing review is still underway, and the company’s purchasing platform remains closed.
During the period between November 23 and November 28, oil marketers imported 105.67 million litres of petrol into Nigeria.
Some marketers confirmed that NNPCL had been selling petrol at N1,045 per litre, a price that could push them to consider importing fuel to meet local demand.
Data obtained by The PUNCH from the Nigerian Ports Authority showed that four vessels carrying petrol arrived in Nigeria during this time, docking at Lagos Apapa Port and the Ebughu jetty in Cross Rivers State.
On Tuesday, the Port Harcourt Refinery resumed operations after years of dormancy, running at 70% of its installed capacity.
According to NNPCL, the refinery currently produces 1.5 million litres of diesel, 2.1 million litres of low-pour fuel oil, 1.4 million litres of naphtha blended into premium motor spirit (PMS), and 900,000 litres of kerosene daily.
The company expects to distribute about 200 trucks of petrol per day.
Despite this progress, concerns have arisen over the refinery’s pricing.
Dangote Refinery currently offers petrol for bulk sales at N970 per litre, and independent marketers have indicated they will prioritize suppliers with more competitive prices.
Chinedu Ukadike, the National Publicity Secretary of the Independent Petroleum Marketers Association of Nigeria (IPMAN), warned that high prices from the Port Harcourt Refinery could discourage marketers, though he expressed hope for a price adjustment in line with international market trends.
However, the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) downplayed claims of NNPCL fuel being costlier than Dangote’s.
PETROAN President Billy Gillis-Harry confirmed that members were still operating under previous pricing structures while awaiting updates from the Port Harcourt Refinery.
NNPCL, in a separate statement, reaffirmed that current supplies, including those sourced from the Dangote Refinery, are reserved for its retail stations.
Bulk sales from the Port Harcourt Refinery remain on hold as price reviews continue.