Friday, November 24, 2023


NNPCL announced on Thursday its plan to halt refined petroleum product imports by December 2024, anticipating full operational status for all national refineries by then. 

The Group Chief Officer, Mele Kyari, assured the completion of Port Harcourt Refining Company's rehabilitation by year-end and projected a revenue growth to N4.5tn by 2023. 

Kyari emphasized refinery start dates, envisioning Nigeria as a net exporter of petroleum products in 2024. Oil marketers affirmed Port Harcourt refinery's readiness, predicting a substantial drop in product prices when operations commence in January 2024. 

The President of the Petroleum Products Retail Outlets Owners Association, Billy Gillis-Harry, confirmed the refinery's readiness and anticipated a cost reduction in PMS upon its operation.

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