By Ayomide Otitoju
The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has raised concerns over a ₦75 per litre price difference between petrol supplied by the recently revitalized Port Harcourt Refinery and the Dangote Refinery.
Speaking during the reopening ceremony of the Port Harcourt Refinery on Tuesday, PETROAN Public Relations Officer Dr. Joseph Obele highlighted the pricing disparity. According to Obele, while the Dangote Refinery supplies Premium Motor Spirit (PMS) to marketers at ₦970 per litre, the Nigerian National Petroleum Company Limited (NNPCL) sells the product at ₦1,045 per litre.
“This ₦75 difference is a steep margin for businesses, especially in an industry where competitive pricing is key to profitability,” Obele stated.
The Port Harcourt Refinery, now operating at 60,000 barrels per day, marks a significant step toward reducing Nigeria’s dependence on imported petroleum products. Obele, a former chairman of the Independent Petroleum Marketers Association of Nigeria (IPMAN) at the Port Harcourt Depot, commended the federal government for the refinery’s revitalization but stressed the need for price harmonization to ensure fairness for marketers and consumers.
He revealed that NNPCL Group Chief Executive Officer Mele Kyari has pledged to address the issue and work toward harmonizing prices to mitigate the impact on stakeholders.
The refinery’s reopening is seen as a critical boost to Nigeria’s local production capacity, potentially reducing import reliance and strengthening the petroleum sector. However, concerns over pricing disparities underscore the need for comprehensive reforms to stabilize the downstream sector.
Stakeholders have called for continued efforts to ensure the benefits of local refining are reflected in competitive pricing and accessible supply for all Nigerians.
