The Port Harcourt Refinery in Rivers State, Nigeria, boasting a combined capacity of 210,000 barrels per day, officially started operations on December 20, 2023.
This development follows the announcement by the Minister of State for Petroleum, Heineken Lokpobiri, in August that the refinery would become operational in December 2023.
A video shared on X showcased the refinery’s flare, signalling the initiation of refining activities.
The Nigerian National Petroleum Corporation Limited (NNPCL) had earlier stated its goal to cease importing finished petroleum products by December 2024. NNPCL’s Group Chief Executive Officer, Mele Kyari, confirmed plans for the Port Harcourt refinery to commence operations by the end of December 2023.
Additionally, the Warri refinery is set to begin operations early in the first quarter of 2024, with the one in Kaduna following suit by the end of 2024.
The Federal Executive Council had approved $1.5 billion in March 2021 for it’s rehabilitation. Over the past decade, the Nigerian government has invested N11.35 trillion ($25 billion) in rehabilitating the country’s three refineries.
With the Port Harcourt Refinery now operational, experts in the downstream sector anticipate a reduction in the price of petrol, which currently stands at over N620 per litre.
