JUST IN: Peter Obi Reacts to Commencement of Production at Port Harcourt Refinery, Shares Concern

The presidential candidate of the Labour Party in the 2023 election, Peter Obi, has commended the Nigerian National Petroleum Corporation (NNPC) for fulfilling its promise to revamp the old Port Harcourt refinery.

The refinery, which commenced production on Tuesday, boasts an installed production capacity of 60,000 barrels of crude oil per day.

The NNPC, in a statement on Tuesday, said the refinery is currently operating at 70% of its installed capacity, with plans to ramp up to 90%. The refinery produces Straight-Run Gasoline (Naphtha), which is blended into 1.4 million litres of Premium Motor Spirit (PMS or petrol) daily. Additionally, the refinery is producing 900,000 litres of Kerosene, 1.5 million litres of Automotive Gas Oil (AGO or Diesel), and 2.1 million litres of Low Pour Fuel Oil (LPFO) daily. The refinery is also producing additional volumes of Liquefied Petroleum Gas (LPG).

According to reports, approximately 200 trucks are expected to load products daily from the refinery.

Reacting, Obi, in a statement, congratulated the NNPC on the achievement, saying it was a step in the right direction. However, he also raised concerns over the need for transparency in the operations of the NNPC.

“Nigerians deserve clarity and accountability regarding the management of the nation’s vital oil resources, ensuring that the benefits of increased refining capacity reach every Nigerian and that the gains are used to support long-term development,” he said.

The former governor of Anambra State also welcomed the news of the Kaduna refinery’s revival, saying it was promising and expected to boost productivity, improve transportation, and alleviate economic burdens across the country.

His words: I wish to congratulate the Nigerian National Petroleum Corporation (NNPC) for fulfilling the long-standing promise of revamping the old Port Harcourt refinery.

The refinery, which comes on stream today boasts an installed production capacity of 60,000 barrels of crude oil per day. Approximately 200 trucks are expected to load products daily from the refinery.

Nigerians now await the corresponding impact and benefits on pump prices and the overall economy.

Additionally, news of the Kaduna refinery’s revival is promising, as it is expected to boost productivity, improve transportation, and alleviate economic burdens across the country.

While we acknowledge these achievements as a step in the right direction, it is crucial to emphasize the importance of transparency in the operations of the NNPC.

Nigerians deserve clarity and accountability regarding the management of the nation’s vital oil resources, ensuring that the benefits of increased refining capacity reach every Nigerian and that the gains are used to support long-term development.

A new Nigeria is POssible!