NNPC Clarifies Reported Sale of Petrol From Port Harcourt Refinery to Marketers
- The NNPC Limited has clarified that bulk product sales have not begun at the Port Harcourt refinery
- The oil company stated that it has not yet opened the purchase portal as it is still finalizing the necessary processes
- It added that the product from the refinery is currently for its retail stores, as prices would be regularly reviewed and adjusted as required
Legit.ng journalist Victor Enengedi has over a decade's experience covering Energy, MSMEs, Technology and the Stock Market.
The Nigerian National Petroleum Company Limited (NNPCL) has clarified that bulk product sales have not begun at the Port Harcourt refinery despite reports of product trucking on Tuesday, November 26.
This statement came in response to numerous inquiries about the pricing framework, as Nigerians expressed curiosity about how the revamped refinery might influence prices.
Source: Twitter
Earlier this week, the NNPC received widespread praise from Nigerians for announcing the official commencement of crude oil processing at the Port Harcourt Refinery.
Shortly after, speculation arose regarding the price of petrol, with some suggesting it was higher than the price offered by the Dangote Refinery.
NNPC still finalizing bulk petrol sales plans
The National Headquarters of the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) in Abuja stated that the NNPC Port Harcourt refinery has not issued a new price for PMS.
According to PETROAN, its members are currently purchasing PMS using the existing pricing template while awaiting an update on new prices.
Responding to the situation, Femi Soneye, the Chief Corporate Communication Officer of NNPC Ltd., stated that bulk sales have not yet started as the required processes have yet to be completed.
He said:
“We have not yet commenced bulk sales, and we have not yet opened the purchase portal as we are still finalizing the necessary processes.
“At present, the products we are selling are what we bought from the Dangote Refinery, which includes NMDPRA fees. The product from PH is currently for our retail stores. Our prices are regularly reviewed and adjusted as required.”
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Reacting to NNPC's remarks, Wale Ogundeji, an energy analyst told Legit.ng that the oil firm needs to communicate better with the public.
He said:
"The NNPC's decision to stall the bulk sale of petrol from the Port Harcourt refinery raises critical concerns about transparency and operational efficiency. While ensuring product quality and addressing logistics is vital, the delay adds uncertainty to fuel supply stability. Nigerians deserve clear communication on timelines and assurances that this move won't exacerbate existing challenges in the energy sector."
Dangote Refinery announces lower petrol price
In related news, Legit.ng reported that the Dangote Petroleum Refinery has doubled down on its efforts to attract buyers for its petroleum products.
A recent advertisement by the company announced a cheaper rate than a strong competitor in the market.
The latest campaign sought to remind consumers about the quality of its products amid reports that crude oil processing has now begun at NNPC's Port Harcourt refinery.
Source: Legit.ng
