The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has raised concerns over the price difference between petrol supplied by the Port Harcourt Refinery and that from the Dangote Refinery. According to PETROAN, while the Dangote Refinery sells petrol to marketers at ₦970 per litre, the Nigerian National Petroleum Company Limited (NNPCL) is offering its petrol at ₦1,045 per litre, resulting in a price gap of ₦75 per litre.
Dr. Joseph Obele, PETROAN’s Public Relations Officer, made the revelation during the official reopening ceremony of the Port Harcourt Refinery on Tuesday. He acknowledged the significance of the refinery’s return to production, which now operates at a capacity of 60,000 barrels per day. “The restoration of the Port Harcourt Refinery is a major step towards reducing Nigeria’s dependence on imported petroleum products,” Obele stated.
However, he expressed concern over the pricing disparity between the NNPCL and Dangote refineries, stating, “The ₦75 per litre price difference is a steep margin for businesses, especially in an industry where profitability depends on competitive pricing.”
Obele further emphasized that the pricing issue could impact the overall market, particularly small and medium-sized businesses in the petroleum retail sector. In response to the concerns, he revealed that Mele Kyari, the Group Chief Executive Officer of NNPCL, has promised to address the pricing disparity and work towards harmonizing the prices to ease the burden on marketers and consumers.
The reopening of the Port Harcourt Refinery is seen as a positive development in increasing Nigeria’s local production capacity and reducing its reliance on petroleum imports. However, the pricing issues underscore the need for continued reforms in the country’s downstream petroleum sector to ensure stability and competitiveness.
