The Energy Security Coalition (ESC) is pleased to confirm, after thorough verification, that the Old Port Harcourt Refinery has gone back into operation, currently functioning at nearly 70% of its installed capacity. This positive development signifies that energy security in Nigeria is achievable.
While there were previously doubts about the Nigerian National Petroleum Company Ltd’s commitment to revamping the refinery, it is refreshing to see that the Mele Kyari-led NNPCL has finally delivered. Though the progress came later than expected, it is better late than never. We hope that other refineries, which have been inactive for years, will follow the same path of revival that the Port Harcourt Refinery has demonstrated.
The ESC emphasizes the importance of ensuring that there is no monopoly in the provision of petroleum products in Nigeria. Adding another functional refinery is a constructive step towards promoting competition, which will ultimately lead to reduced prices for petroleum products in the long run.
We firmly believe that not only is Nigeria’s energy security attainable, but we will also soon begin exporting refined petroleum products to other parts of Africa and the world. For this to happen, it is crucial for all stakeholders in the petroleum sector to collaborate in developing liberal policies that encourage new entrants into the refining business and increase investments in the sector for the benefit of all Nigerians.
Thus, the Energy Security Coalition of Nigeria congratulates the management of the Nigerian National Petroleum Company Ltd, President Bola Ahmed Tinubu, and the people of Nigeria on the successful relaunch of the Port Harcourt Refinery.
Barr. Frank Tietie
Convener, Energy Security Coalition (ESC) of Nigeria
Executive Director, Citizens Advocacy for Social & Economic Rights (CASER)
PORT HARCOURT REFINERY: AN ENERGY-SECURE NIGERIA IS POSSIBLE
Being a Press Statement by the Energy Security Coalition of Nigeria
16:00 Hours GMT, 28th November 2024, Abuja.
