In a significant development for Nigeria’s energy landscape, the Port Harcourt Refining Company (PHRC) Limited, boasting a combined capacity of 210,000 barrels per day, officially resumed operations on Wednesday.
Video footage obtained by Ejes Gist News Nigeria showcased the Port Harcourt Refinery’s flare, signaling the commencement of oil refining activities.
This comes in alignment with the earlier pronouncement by the Minister of State for Petroleum (Oil), Senator Heineken Lokpobiri, who stated in August that the Port Harcourt refinery would begin operations in December 2023.
The primary objective behind the refinery’s reactivation, as stated by Minister Lokpobiri, is to propel Nigeria towards self-sufficiency in fuel production, ultimately putting an end to the need for fuel imports.
Corroborating this vision, the Nigerian National Petroleum Corporation Limited (NNPCL) affirmed that the era of importing petroleum products into the country would cease by December 2024. Mele Kyari, the Group Chief Executive Officer of NNPCL, provided insights, stating, “I can confirm to you that by the end of December this year, we will start the Port Harcourt refinery; early in the first quarter of 2024, we will start the Warri refinery, and by the end of 2024, Kaduna refinery will come into operation.
This milestone follows the Federal Executive Council’s approval in March 2021 of $1.5 billion for the rehabilitation of the Port Harcourt Refinery. Notably, data indicates that the Nigerian government has invested a substantial N11.35 trillion ($25 billion) in the past decade to address issues in the country’s three refineries.
The resumption of operations at the Port Harcourt Refinery has ignited optimism among stakeholders in the downstream sector. Industry experts anticipate a potential drop in the price of fuel, which currently stands at over N617 per litre, as the country moves closer to achieving fuel self-sufficiency.
Video of Port Harcourt Refinery working
Breaking News
Port-Harcout Refinery is Alive
Congratulations to the Good People of the Federal Republic of Nigeria.
Renewed Hope is Alive
— Pastor Okezie J. Atañi… (@ONsogbu) December 20, 2023
As the Port Harcourt Refinery contributes to the nation’s energy independence, Nigerians eagerly await the positive impact on fuel availability and pricing in the coming months. Stay tuned for updates on this transformative journey towards enhanced energy security.
