Latest Petrol Price Hike News, Update On Fuel Scarcity For November 27th, 2024

As Nigerians continue to groan over the recent increase in fuel prices by the Nigerian National Petroleum Company (NNPC) Limited, Naija News brings you the latest update on petrol scarcity, fuel price increase and Govt/citizens’ reactions.

Presidency Confirms Commencement Of Port Harcourt Refinery Operations

The Presidency has announced the commencement of operations at the Port Harcourt Refinery, with about 200 trucks ready to load petroleum products from the government-owned facility.

A presidential spokesperson, Sunday Dare, disclosed the development on Tuesday via his official X handle, describing it as a significant milestone in Nigeria’s energy sector.

The Nigerian National Petroleum Company Limited (NNPCL) had earlier confirmed the refinery’s commencement of crude oil processing.

Port Harcourt Refinery Begins Crude Oil Processing At 60% Capacity

The Port Harcourt Refinery in Rivers State has commenced crude oil processing, marking a significant milestone in Nigeria’s quest to boost local refining capacity.

The Chief Corporate Communications Officer of the Nigeria National Petroleum Company Limited (NNPCL), Olufemi Soneye, confirmed the development, stating that the refinery is set to operate at 60 percent of its capacity.

Naija News understands that the Nigerian National Petroleum Company Limited (NNPCL) had set multiple dates for the refinery’s operational start, including promises made in March, August, and September 2024, all of which passed without fulfillment.

NNPCL Gives Updates On $741 Million Kaduna Refinery Project

The Nigerian National Petroleum Company Limited (NNPCL) has stated it cannot specify a completion date for the Quick Fix Project at the Kaduna Refining and Petrochemical Company (KRPC), despite previous projections.

Earlier, KRPC’s Managing Director, Dr. Mustafa Sugungun, had confirmed that the $741 million rehabilitation project, awarded to Daewoo Engineering & Construction from South Korea, was expected to be finished by the close of 2024.

The project’s goal is to enhance the refinery’s production capacity of 110,000 barrels per day, aiming for at least 60% operational efficiency.

Dr. Sugungun, speaking at the inauguration of a refurbished Rido Community Primary School and a solar-powered borehole in Maraban Rido, Kaduna, reaffirmed NNPCL’s dedication to its host communities through Corporate Social Responsibility (CSR) initiatives.

However, he did not provide further details on whether the original completion timeline for the refinery’s rehabilitation remains achievable.

The Kaduna refinery, which has been non-operational for several years, plays a crucial role in Nigeria’s strategy to reduce dependency on imported petroleum products.

Emmanuel Ajiboye, the Manager of Operations, who represented Dr. Sugungun at the event, underscored that the Quick Fix Project’s successful execution would have significant economic benefits, including job creation, support for local businesses, and a boost to the informal economy.