The Independent Marketers Association of Nigeria (IPMAN) has announced that the Port Harcourt refinery, with a capacity of 210,000 barrels per day, will commence operations by the end of July. This announcement comes after the Minister of State for Petroleum Resources, Heineken Lokpobiri, stated in December 2023 that the mechanical and flare start-off of the refinery had been completed. The refinery, which comprises two units with a combined capacity of 210,000 barrels per day, has been undergoing rehabilitation since March 2019.

According to IPMAN National Public Relations Officer, Ukadike Chinedu, the commencement of the refinery’s operations will reduce the price of petroleum products, ensure adequate supply, and stimulate economic activities. The refinery’s turnaround maintenance is ongoing, with all hands on deck to meet the July deadline. Ukadike emphasized that the work done represents a complete turnaround, not just rehabilitation, and that every effort is being made to meet the July deadline.

Despite previous delays, Ukadike expressed confidence that the refinery is 99% ready and that the government is committed to meeting the July deadline. He also highlighted the importance of competition in the industry, stating that the commencement of the Port Harcourt refinery and the upcoming Dangote refinery will reduce the price of petrol and also benefit the nation.

The Port Harcourt refinery’s operations will be a significant boost to the nation’s refining capacity and will help reduce the country’s reliance on imported petroleum products. The refinery’s rehabilitation is a testament to the Tinubu’s government’s commitment to revamping the nation’s refineries and ensuring energy security.