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PH Refinery: Nigerians Expect Lower Petrol Prices, Clarity From NNPC – Peter Obi

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6 hours ago

Nov 27, 2024.

Former presidential candidate of the Labour Party (LP) in the 2023 election, Peter Obi, has urged the federal government to prioritize transparency and accountability in managing Nigeria’s vital oil resources. This comes as the Port Harcourt Refinery officially resumes production after undergoing rehabilitation.

Reacting to the development, the former governor of Anambra State took to his X (formerly Twitter) handle on Wednesday to commend the Nigerian National Petroleum Corporation (NNPC) for successfully revamping the refinery.

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EKO HOT BLOG reports that however, Obi stressed the need for tangible economic benefits and reductions in pump prices to reflect the renewed operations.

“I wish to congratulate the Nigerian National Petroleum Corporation (NNPC) for fulfilling the long-standing promise of revamping the old Port Harcourt refinery,” Obi wrote. “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.”

He noted that Nigerians are eagerly anticipating the corresponding positive impact on fuel prices and the broader economy, emphasizing that such milestones should translate to tangible relief for citizens.

Obi also lauded reports of progress in the rehabilitation of the Kaduna refinery, describing it as a promising development for boosting national productivity and easing transportation challenges.

“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,” he stated.

While acknowledging these achievements as steps in the right direction, Obi called for enhanced transparency in NNPC’s operations. He stressed that Nigerians deserve clarity on how the nation’s oil resources are managed to ensure that increased refining capacity benefits all citizens and supports sustainable development.

Petrol Prices NNPC Peter Obi

“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 concluded.

The commencement of operations at the Port Harcourt Refinery has been widely celebrated, with stakeholders expressing optimism about its potential to enhance fuel supply and stabilize the downstream sector.