Mele Kyari, Group Managing Director of the Nigerian National Petroleum Company Limited and Timipre Sylva, the Minister of State for Petroleum Resources, have said that the Port Harcourt Refinery, whose activities were originally planned to begin in December 2022, will now begin before the end of the first quarter of 2023.
On Monday in Abuja, during the Federal Ministry of Information’s series on President Muhammadu Buhari’s regime scorecard, Kyari and Sylva took this position.
Kyari explained the reasons for the delay, stating that it was not feasible to start the fuel plant, which makes up the 60,000 barrels per day (bpd) portion of this activity, by the end of 2022 as had been promised. Therefore, we will begin it in the first quarter of 2023; otherwise, all other processes are still in progress.
Timipre Sylva, the Minister of State for Petroleum Resources, provided additional information about the refinery’s condition, stating that “the rehabilitation of the 60,000 barrels per day is being completed and it is going to be launched in the first quarter.”
Sylva mentioned the Dangote refinery, with a 650,000 barrel per day capacity, and modular refineries all throughout the country as contributors to the FG’s projected 2023 end to the importation of petroleum products into the nation.
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Sylva asserted that a number of modular refineries, including the Waltersmith modular refinery, in which the NNPC has a 30% stake, and the Duport modular refinery, in which the NNPC also has a 30% stake, would also begin operations in 2023, promising a significant decrease in the importation of petroleum products.
Sylva added that petroleum product pricing in Nigeria should be determined by the market like in other nations where products sell for more than Nigeria’s present official PMS price at N180 per litre, which was mentioned by Sylva as being unsustainable fuel subsidies.
According to Sylva, the Port Harcourt Refinery, which has been undergoing renovations at a cost of $1.5 billion and is anticipated to be able to provide 60,000 barrels of processed crude per day, was set to begin operations by the end of December 2022, according to a November 2022 announcement from the Minister.
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