Petroleum marketers have raised concerns over the pricing of petrol from the recently rehabilitated Port Harcourt refinery, warning they will not purchase if the Nigerian National Petroleum Company Limited (NNPCL) offers the product at a higher rate than other sources.
Reports indicate that NNPCL might be dispensing petrol at approximately N1,030 per litre—about N60 higher than the price from the Dangote Refinery. However, the NNPCL has denied these claims without clarifying the exact price of its fuel.
Chinedu Ukadike, spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN), expressed dissatisfaction with the potential pricing, emphasising that marketers would prioritise affordability.
“If the price from the Port Harcourt refinery is indeed N1,030, it is unacceptable. We will purchase fuel from more affordable sources until there is a price review,” Ukadike stated.
The NNPCL spokesperson, Olufemi Soneye, clarified that the refinery is currently supplying only its retail outlets, and prices are periodically reviewed to reflect operational realities.
Experts have also weighed in on the pricing debate. Energy consultant Henry Adigun estimates that the refinery’s petrol, which requires blending to meet quality standards, should cost between N860 and N870 per litre. Adigun noted that the facility is not yet producing petrol directly but blending components such as naphtha and cracked C5 to achieve marketable petrol.
The Crude Oil Refineries Owners Association of Nigeria (CORAN) added that blended petrol should ideally be cheaper. However, concerns about sustainability and environmental impact have been raised, particularly if key blending feedstocks are imported.
Adigun emphasised that blending is a global practice but stressed the need for the Port Harcourt refinery to advance to a stage where it can produce standard petrol without blending.
The pricing controversy underscores broader questions about the efficiency of Nigeria’s refining capabilities and the potential impact on fuel availability and affordability in the country.
