The Nigerian Nationwide Petroleum Firm (NNPC) Ltd. has fulfilled its pledge of re-streaming the Port Harcourt Refining Firm (PHRC), signalling the graduation of crude oil processing from the plant and supply of petroleum merchandise into the market.
On Tuesday, vans started loading petroleum merchandise which embody Premium Motor Spirit (PMS) or petrol, Automotive Gasoline Oil (AGO) or diesel and Family Kerosene (HHK) or Kerosene, whereas different product slates can be dispatched as effectively.
This was contained in a press release issued Tuesday by the Chief Company Communications Officer NNPCL Olufemi O. Soneye.
Talking throughout a short ceremony to mark the graduation of product- loading on the refinery in Port Harcourt, Group CEO NNPCL Mele Kyari described the graduation of the lead-out actions “as a monumental achievement for Nigeria which signifies a brand new period of power independence and {economic} development for the nation.”
The GCEO notably thanked President Bola Ahmed Tinubu for his unwavering assist and understanding in direction of the rehabilitation challenge and for his persistence to make sure power safety for the nation.
Kyari “additionally expressed deep appreciation to the NNPC Ltd Board of Administrators and all the employees for his or her assist and dedication, which crystallized into the streaming of the refinery. He additionally counseled the contractors for doing an ideal job in making certain that the refinery is delivered regardless of all challenges.”
The GCEO additional thanked Nigerians for his or her persistence and for the reliable expectations of the Firm to ship on the opposite refineries.
In his remarks, the Chief Government of the Nigerian Midstream & Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, congratulated the NNPC Ltd for the milestone and guaranteed of his company’s continued assist in direction of the completion of rehabilitation work on the different refineries.
“The PHRC rehabilitation challenge is Engineering, Procurement, Development, Set up & Commissioning (EPCIC) challenge that’s aimed toward restoring the refinery to full performance and renewal. It has achieved over 16 million man hours with zero Loss Time Damage (LTI),” the assertion added.
…Operational capability
It was learnt that the refinery would begin with 60,000-barrel capability per day, releasing Premium Motor Spirit, diesel, and others into the Nigerian market.
The Port Harcourt Refinery can be the second petrol-producing refinery after the Dangote Refinery commenced PMS production in September.
It is likely one of the three owned by the federal authorities and managed by the NNPCL.
Nigerians have been hopeful that the price of gasoline might crash if the nation refines its crude and ends the import of refined merchandise.
The refinery, located in Nigeria’s oil-rich Niger Delta area, has been in operation since 1965, however later turned moribund for a number of years.
In March 2021, the Nigerian authorities acquired a $1.5bn mortgage for the renovation and modernisation of the refinery.
Blueprint reviews that guarantees made to Nigerians by the Federal Ministry of Petroleum Sources and the NNPC concerning the refinery failed seven instances prior to now.
Barely two months after the September completion deadline failed, the NNPC defined final week why it couldn’t ship the much-awaited Port Harcourt Refinery on the scheduled time.
..Tinubu excited
Congratulating the NNPCL workforce, President Tinubu acknowledged “the pivotal position of former President Muhammadu Buhari in initiating the excellent rehabilitation of all our refineries and expresses gratitude to the African Export-Import {Bank} for its confidence in financing this vital challenge.”
The president counseled the Kyari-led NNPCL “whose unwavering dedication and dedication have been instrumental in overcoming challenges to attain this milestone.
“With the profitable revival of the Port Harcourt Refinery, President Tinubu urged NNPC Restricted to expedite the scheduled reactivation o the second Port Harcourt refinery and the Warri and Kaduna refineries.”
He stated the efforts would considerably improve home production capability alongside the contributions of privately-owned refineries and make the nation a significant power hub, with the gasoline sector additionally having fun with unprecedented consideration by the administration.
The president underscored his administration’s willpower to restore the nation’s refineries, aiming to eradicate the disheartening notion of Nigeria as a significant crude oil producer that lacks the flexibility to refine its personal assets for home consumption.
Highlighting the values of persistence, integrity, and accountability within the rebuilding of the nation’s infrastructure, President Tinubu known as on people, establishments and residents entrusted with duties to take care of focus and uphold belief of their service to the nation.
In alignment with the Renewed Hope Agenda centered on shared {economic} prosperity for all, the president reaffirmed his administration’s dedication to reaching power sufficiency, enhancing power safety and boosting export capability for Nigeria.
…Cheery information, lengthy overdue – Specialists
Additionally in separate reactions, Nigerians lauded the breakthrough amidst a number of setbacks.
An economist, Aliyu Ilias, described the resumption of operations by the NNPC Ltd as cherry information.
Ilias instructed Blueprint that for Nigerians to get the good thing about the refinery, it must be aggressive, and urged the administration of the corporate to additionally handle the gray areas surrounding its operations.
“It’s excellent news and cherry information that we’ve our refinery working. Its workability has not been analysed. So, what number of barrels can this produce per day? What’s going to the provision be like, how a lot are they promoting it as NNPCL? These are the issues we have to know,” stated the analyst.
“It isn’t sufficient that it has began working, it ought to work and higher the lives of Nigerians. For it to raised the lives of Nigerians, it ought to compete with Dangote Refinery. So, if Dangote is promoting at N980, they need to be promoting at N900 or N750 that’s how we are going to know that it’s truly working.
“Although it’s going to have a bonus by way of foreign exchange, it’s additionally going to have a bonus on our GDP. It’s additionally going to make petroleum merchandise accessible. So, that is the great thing about it.
“However, will it in any means cut back the prices of shopping for PMS, these are the issues we’d like them to elucidate to us. How a lot will they be promoting it to entrepreneurs?” Ilias additional stated.
On his half, Chief Emmanuel Okafor stated the graduation of production on the refinery was lengthy overdue.
Whereas describing it as a constructive growth, he burdened that the motion would result in a greater life for Nigerians.
“This can be a constructive growth and a step in the proper course. The graduation of production at Port Harcourt Refinery is lengthy overdue, and we hope it results in tangible advantages, like decreasing gasoline costs and easing the burden on Nigerians.
“It’s essential for the Kaduna Refinery to comply with swimsuit, as self-reliance in processing pure assets is vital to true independence. Effectively performed to Kyari and his team-let’s see sustained progress,” Okafor stated.
In the identical vein, Senator Shehu Sani expressed confidence that the graduation of production by the refinery will influence the value of petrol.
“Glad to listen to that Port Harcourt Refinery has commenced production. We hope this may influence on decreasing the value of petroleum merchandise and make life simpler for the lots.
“We’re anxiously ready for the same gesture to Kaduna Refinery. A rustic that can’t course of its pure assets continues to be a colony. Kudos to Kyari,” he stated.
… AYCF hails Tinubu, NNPCL
in an identical commendation, the Arewa Youth Consultative Discussion board (AYCF) stated: “The refinery’s capability to course of 60,000 barrels of crude oil each day and cargo 200 vans with refined merchandise highlights the dedication of the Federal Authorities and the NNPCL to addressing the nation’s power wants.”
In a press release signed by its President-Basic, Yerima Shettima, the group described the event as a landmark achievement in Nigeria’s oil sector.
In accordance with Shettima, the refinery’s revival below the Kyari-led NNPCL “marks a step towards self-sufficiency in petroleum merchandise and is a testomony to the federal government’s dedication to revitalising vital infrastructure.”
He added that “the power’s operational standing represents hope for the oil sector, which has confronted years of setbacks.”
He additional famous that the refinery’s reopening would scale back Nigeria’s reliance on imported gasoline, stabilise costs, and bolster {economic} sovereignty.
Shettima emphasised “the broader implications of the event, together with job creation and the alleviation of unemployment amongst youths. This achievement demonstrates the facility of imaginative and prescient, willpower, and strategic planning in overcoming longstanding challenges.”