The Federal Government on Friday, said the Port Harcourt Refining Company (PHRC) Ltd. plant, in Port Harcourt, will resume operation by December this year.
Osun Defender had reported that the price of Premium Motor Spirit, Popularly called Petrol was on the high side due to the removal of subsidy.
Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, made this known during an inspection tour of the rehabilitation work progress at the Refining Company.
Lokpobori who was accompanied by his counterpart, the Minister of State for Petroleum (Gas), Hon. Ekperikpe Ekpo; and the staff of the Ministry, said the level of progress recorded in the PHRC rehabilitation project was encouraging.
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He said: “Our objective is to ensure that in the next few years, Nigeria stops fuel importation. From what we have seen here today, Port Harcourt Refinery will come on board by the end of the year, Warri will come on stream by the end of the first quarter of next year, and Kaduna will also come on board towards the end of next year. If you add that to the Dangote Refinery, we will be able to stop fuel importation, and Nigerians will enjoy the full benefits of deregulation.”
The minister also said he was satisfied with the ongoing rehabilitation work at the Port Harcourt refinery, noting that once all the refineries were back on stream, Nigerians would enjoy a better supply of petroleum products, and foreign exchange would be domesticated, leading to an improved economy.
Earlier in his remarks, the Group CEO, NNPC Ltd., Mr. Mele Kyari, said bringing back the refineries to their optimal levels was a national aspiration, and the company remained focused on delivering that.
He said: “We are aware of our nation’s challenges in terms of fuel supply. But we are not here to give excuses. We are focused on delivering this rehabilitation project, our two other refineries, and all other investments towards revamping the nation’s refining capacity.
“We are hopeful that in 2024, this country will be a net exporter of petroleum products.”
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