The Port Harcourt Refinery now processes 60,000 barrels daily, a key step in Nigeria’s energy independence and economic growth journey.

[dropcap]T[/dropcap]he Nigeria National Petroleum Company Limited (NNPCL) has announced the commencement of crude oil processing at the Port Harcourt Refinery, Rivers State, marking a pivotal moment in Nigeria’s journey toward energy self-sufficiency and economic growth.

Femi Soneye, Chief Corporate Communications Officer of NNPCL, confirmed the development on Tuesday, revealing that the refinery will operate at 60% capacity, processing 60,000 barrels of crude oil daily.

Also read: Dangote cement to issue N300bn bonds for debt refinancing and working capital

“This groundbreaking milestone signifies a new era of energy independence and economic growth for our nation,” Soneye declared, commending President Bola Tinubu’s administration and the leadership of NNPCL’s board, chaired by Mele Kyari.

Alongside the refinery’s reopening, NNPCL has initiated truck-loading operations to ensure efficient distribution of refined products. This move aims to stabilise supply across the country, reducing reliance on imported petroleum products.

Soneye also highlighted ongoing efforts to revive the Warri Refinery, signaling the corporation’s broader commitment to revitalising Nigeria’s refining capacity.

The resumption of operations at the Port Harcourt Refinery is a critical step in reducing Nigeria’s dependence on imported fuel and addressing the nation’s foreign exchange challenges.

Additionally, the development is expected to generate jobs and improve the country’s overall economic outlook.

Despite the optimism, questions linger regarding the $1.5 billion expended on the refinery’s rehabilitation, with stakeholders calling for transparency in the project’s execution.

Source: Read more at iretura.com