PORT HARCOURT REFINERY MISSES SEVENTH PRODUCTION ROLLOUT DEADLINE, NNPC FAILS TO PROVIDE UPDATES
Detailed Breakdown:
1. Context: The Port Harcourt Refinery in Rivers State, managed by the Nigerian National Petroleum Company Limited (NNPC), has missed its seventh deadline to begin fuel production.
The refinery has been non-operational for years, contributing to Nigeria's dependence on imported fuel despite having several refineries.
2. Previous Promises and Delays: In August 2024, NNPC’s Chief Financial Officer, Umar Ajiya, promised that fuel production would start by September 2024, but this target was also missed.
Since December 2023, NNPC has given various dates for the refinery’s rehabilitation completion, but all deadlines have been postponed.
3. Contractor’s Response: Maire Tecnimont SpA, the contractor handling the refinery's rehabilitation, communicated that it would provide an update by October 2, 2024, after receiving inquiries from Senior Advocate of Nigeria, Femi Falana.
4. Government’s Initial Plans: The rehabilitation of the Port Harcourt Refinery was initially promised by the NNPC Group Chief Executive Officer, Mele Kyari, to be completed before the end of 2023.
The Nigerian government secured a $1.5 billion loan in 2021 to fund the refinery's modernization.
5. Impact on Nigeria’s Fuel Imports: Due to the refinery's long-term non-functionality, Nigeria has had to rely on fuel imports, costing the country significant amounts monthly.
Dangote Group’s President, Aliko Dangote, disclosed that $4 billion has been spent on trying to revive the country’s refineries.
6. Nigerian Public’s Reaction: Nigerians have expressed frustration with the continuous delays and failed promises about the refinery’s rehabilitation. There are hopes that once the refinery becomes operational, it could help reduce fuel importation costs and lower petrol prices.
Detailed Breakdown:
1. Context: The Port Harcourt Refinery in Rivers State, managed by the Nigerian National Petroleum Company Limited (NNPC), has missed its seventh deadline to begin fuel production.
The refinery has been non-operational for years, contributing to Nigeria's dependence on imported fuel despite having several refineries.
2. Previous Promises and Delays: In August 2024, NNPC’s Chief Financial Officer, Umar Ajiya, promised that fuel production would start by September 2024, but this target was also missed.
Since December 2023, NNPC has given various dates for the refinery’s rehabilitation completion, but all deadlines have been postponed.
3. Contractor’s Response: Maire Tecnimont SpA, the contractor handling the refinery's rehabilitation, communicated that it would provide an update by October 2, 2024, after receiving inquiries from Senior Advocate of Nigeria, Femi Falana.
4. Government’s Initial Plans: The rehabilitation of the Port Harcourt Refinery was initially promised by the NNPC Group Chief Executive Officer, Mele Kyari, to be completed before the end of 2023.
The Nigerian government secured a $1.5 billion loan in 2021 to fund the refinery's modernization.
5. Impact on Nigeria’s Fuel Imports: Due to the refinery's long-term non-functionality, Nigeria has had to rely on fuel imports, costing the country significant amounts monthly.
Dangote Group’s President, Aliko Dangote, disclosed that $4 billion has been spent on trying to revive the country’s refineries.
6. Nigerian Public’s Reaction: Nigerians have expressed frustration with the continuous delays and failed promises about the refinery’s rehabilitation. There are hopes that once the refinery becomes operational, it could help reduce fuel importation costs and lower petrol prices.