IPMAN Reveals NNPCL Trucks Are Solely Responsible For Petrol Loading At Port Harcourt Refinery

IPMAN Reveals NNPCL Trucks Are Solely Responsible For Petrol Loading At Port Harcourt RefineryThe Nigerian National Petroleum Company Limited (NNPCL) has officially confirmed the resumption of operations at the Port Harcourt Refinery, marking a significant step toward Nigeria’s goal of achieving self-sufficiency in petroleum refining. In a statement released on Tuesday, the company expressed gratitude to Nigerians for their continued support, describing the restart of the 60,000 barrels-per-day capacity refinery as a crucial milestone in the country’s energy sector.....KINDLY READ THE FULL STORY HERE▶

However, in an interview with Daily Trust, Abubakar Maigandi, Chairman of the Independent Petroleum Marketers Association of Nigeria (IPMAN), revealed that, at present, only NNPCL trucks are loading products from the refinery. He added, “We are excited about the development, but as of now, we have not been invited to participate. Currently, we are sourcing products from the Dangote refinery.”

While there has been no official word on pricing, marketers are hopeful that the resumption of refinery operations will increase competition and potentially lead to a reduction in petrol prices. Olanrewaju Okanlawon, the National Public Relations Officer of IPMAN, noted that while the price of Premium Motor Spirit (PMS) has not changed yet, the ongoing developments will eventually have an impact on pricing.

Okanlawon explained, “NNPCL has not yet announced any pricing, but the beauty of deregulation is that it brings competition into the market. The basic economic principle of supply and demand means that when there is a surplus of supply, prices will fall. With NNPCL and Dangote both producing, prices will eventually decrease, which will benefit the Nigerian people.

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