The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has raised concerns about the pricing of Premium Motor Spirit (PMS) produced by the recently reopened Port Harcourt Refinery, noting that it is ₦75 per litre more expensive than petrol sold by the Dangote Refinery.
This was disclosed by PETROAN’s Public Relations Officer, Dr. Joseph Obele, during the official reopening ceremony of the Port Harcourt Refinery, which resumed operations on Tuesday with a production capacity of 60,000 barrels per day.
Dr. Obele, a former chairman of the Independent Petroleum Marketers Association of Nigeria (IPMAN) at the Port Harcourt Depot, initially commended the federal government for revitalising the old refinery but expressed concern over the price disparity.
According to Obele, the Dangote Refinery supplies petrol to marketers at ₦970 per litre, while the Nigerian National Petroleum Company Limited (NNPCL) sells the product at ₦1,045 per litre — a difference of ₦75 per litre.
Obele described the ₦75 price differential as a significant burden on businesses, particularly in a sector where profitability depends on competitive pricing.
“This steep margin presents challenges for marketers and underscores the need for urgent harmonisation to ensure fair pricing across the board,” Obele said.
The Group Chief Executive Officer of NNPCL, Mele Kyari, reportedly assured stakeholders during the reopening event that steps would be taken to address the pricing disparity and harmonise rates to protect marketers and consumers.
The reopening of the Port Harcourt Refinery is seen as a pivotal move to boost local production and reduce Nigeria’s dependence on imported petroleum products. While stakeholders have lauded the restoration efforts, the pricing issue highlights the need for comprehensive reforms to stabilise and sustain the downstream petroleum sector.
Industry players remain optimistic that these challenges will be resolved as part of ongoing efforts to enhance efficiency and competitiveness in Nigeria’s energy market.
