The Chief Executive Officer, Nigerian Midstream and Downstream Petroleum Authority, Farouk Ahmed has said the commencement of operations at the Port Harcourt Refinery will lead to decrease in prices of petroleum products.
Recall that President Bola Tinubu in 2023 announced an end to the subsidy regime, leading to a hike in the cost of petrol.
Ahmed disclosed this to newsmen at the opening of the porthacourt refinery on Tuesday.
According to him, products will be available nationwide because there’s now competition among Dangote Refinery and porthacourt refinery.
“Products will be available nationwide. What is important is that there is now competition and there is a choice, and we will see the prices of the products come down becausethers ample supply”.
The NMDPRA boss added that with Dangote and porthacourt refineries on stream, Warri and Kaduna will be the next exporter of petroleum products.
LEADING REPORTERS reports that the Nigerian National Petroleum Company Limited, NNPCL, announced the commencement of crude oil processing at the government-owned facility.
The commencement of production at the Port Harcourt refinery comes after a series of failed deadlines.
