Speaking to journalists, NNPCL’s spokesperson, Olufemi Soneye, explained that the company is still in the process of finalizing operational details. For now, products being sold by NNPCL are sourced from the Dangote Refinery, with prices reflecting all associated regulatory fees. He emphasized that the refinery's current production is directed towards NNPCL’s retail outlets and not for general market distribution. Soneye noted, “We have not yet commenced bulk sales, and we have not yet opened the purchase portal as we are still finalising the necessary processes. At present, the products we are selling are what we bought from the Dangote Refinery, which includes NMDPRA fees. Our prices are regularly reviewed and adjusted as required.”
The clarification comes amid rising tension among oil marketers, who have expressed concerns about pricing competitiveness. The Independent Petroleum Marketers Association of Nigeria (IPMAN) has warned that its members would avoid purchasing products from the Port Harcourt Refinery unless prices are more affordable than those offered by Dangote Refinery or imported alternatives. IPMAN’s spokesperson, Chinedu Ukadike, highlighted the importance of cost efficiency, stating, “With the Port Harcourt Refinery now working, we are anticipating that any moment from now, NNPC will give us its price. Once NNPC releases its price, we will start loading from NNPC. That is subject to whether it is cheaper than that of Dangote.”
Ukadike also revealed that the previous pricing from NNPCL ranged between N1,040 and N1,045 per litre, compared to Dangote Refinery’s N970 per litre. However, he expressed optimism about a potential price adjustment due to recent declines in global crude oil prices. “I know there will be a review of prices because there has been a crash in prices globally. Once that review is done, I will be able to give you the actual price. I know they are reviewing it. They are on top of the matter,” he added.
Adding to the discourse, the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has reported conflicting accounts regarding the refinery’s pricing. PETROAN spokesperson Joseph Obele alleged that petrol from the Port Harcourt Refinery is priced at N1,045 per litre, which is N75 higher than the N970 per litre rate from Dangote Refinery. However, PETROAN’s National President, Billy Gillis-Harry, swiftly dismissed this claim as inaccurate, insisting that no definitive pricing has been established for the refinery’s products.
The Port Harcourt Refinery, which resumed operations earlier this week, has sparked significant attention from industry stakeholders and the public. While NNPCL reassures that pricing and distribution strategies are still being fine-tuned, oil marketers remain cautious, awaiting final price disclosures before determining whether to engage with the refinery. This development underscores the critical need for transparency and market competitiveness as Nigeria seeks to revitalize its local refining capacity.
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