The Labour Party’s presidential candidate in the 2023 elections, Peter Obi, has lauded the Nigerian National Petroleum Corporation (NNPC) for delivering on its promise to rehabilitate the old Port Harcourt refinery. Obi described the achievement as a significant milestone while urging for transparency in the corporation’s operations.
The Port Harcourt refinery, which resumed operations on Tuesday, has an installed production capacity of 60,000 barrels of crude oil per day.
According to a statement from the NNPC, the refinery is currently operating at 70% of its installed capacity, with plans to scale up production to 90% in the near future.
The facility produces Straight-Run Gasoline (Naphtha), which contributes to the daily blending of 1.4 million liters of Premium Motor Spirit (PMS or petrol). It also generates 900,000 liters of kerosene, 1.5 million liters of Automotive Gas Oil (AGO or diesel), and 2.1 million liters of Low Pour Fuel Oil (LPFO) daily. Additional volumes of Liquefied Petroleum Gas (LPG) are also being produced.
Reports indicate that approximately 200 trucks will transport these products daily from the refinery.
Read Also: Atiku Hails Rivers Governor Fubara as a Modern-Day Moses
Withheld Rivers allocation: How tinubu’s directive exposes judiciary’s weakness
Reacting to the development, Obi congratulated the NNPC, stating, “I wish to congratulate the Nigerian National Petroleum Corporation (NNPC) for fulfilling the long-standing promise of revamping the old Port Harcourt refinery.
*The refinery, which comes on stream today, boasts an installed production capacity of 60,000 barrels of crude oil per day. Approximately 200 trucks are expected to load products daily from the refinery. Nigerians now await the corresponding impact and benefits on pump prices and the overall economy.”
Obi also expressed optimism about the revival of the Kaduna refinery, describing it as a positive development. He noted that the refinery’s restoration is expected to enhance productivity, improve transportation, and ease the economic challenges facing the nation.
“News of the Kaduna refinery’s revival is promising, as it is expected to boost productivity, improve transportation, and alleviate economic burdens across the country,” Obi remarked.
However, the former governor of Anambra State emphasized the need for transparency in the NNPC’s operations. He highlighted the importance of ensuring that the benefits of increased refining capacity are felt by all Nigerians.
“Nigerians deserve clarity and accountability regarding the management of the nation’s vital oil resources, ensuring that the benefits of increased refining capacity reach every Nigerian and that the gains are used to support long-term development,” he said.
