The Nigerian National Petroleum Company Limited (NNPCL) has clarified its position on fuel pricing and sales from the recently rehabilitated Port Harcourt Refinery.
Despite public speculation of petrol being sold for N1045, the NNPC stated that it has not finalized the price for petrol refined at the facility.
Current sales are limited to NNPC retail outlets, with bulk sales to independent marketers yet to commence.
According to NNPC spokesperson Olufemi Soneye, the pricing structure is still under review, and the refinery’s output is being supplied exclusively to the company’s stations.
He explained that the purchasing portal remains closed as the organization finalizes operational processes.
Meanwhile, oil marketers have raised concerns about potential pricing discrepancies.
They argued that products from the refinery must be competitively priced, ideally lower than offerings from the privately-owned Dangote Refinery, which currently sells petrol at ₦970 per litre.
Independent marketers fear higher prices could lead to reduced patronage and a shift toward importing fuel to meet local demands.
Recent developments revealed that NNPC sells petrol acquired from Dangote Refinery at about ₦1,045 per litre.
This pricing includes regulatory fees and levies, making it less appealing for independent marketers compared to Dangote’s direct rates.
Despite these concerns, the Port Harcourt Refinery has resumed operations with an output capacity of 70% of its installed capacity.
The facility is projected to release 200 trucks of refined products daily, including significant volumes of diesel, kerosene, and low-pour fuel oil.
However, until pricing reviews are completed and bulk sales commence, oil marketers may explore other supply options to ensure their operations remain viable.
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