According to Festus Osifo, the president of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Nigeria’s state-owned Port Harcourt Refinery has resumed production. Osifo, who revealed this development after a National Executive Council meeting in Abuja, credited the refinery’s successful rehabilitation to rigorous financial oversight and active union involvement. He revealed that the facility is now producing diesel, kerosene, and petrol through its distillation unit. Osifo praised the steering committee for helping realize the vision, stating that past attempts to revive the refinery failed due to a lack of transparency and accountability. Despite the refinery’s revival, Osifo noted that fuel prices will remain high, influenced by a combination of President Bola Tinubu’s devaluation policy and global oil market dynamics. Finally, he highlighted the need for sustainable management to ensure the refinery’s success.
SOURCE: NAIRAMETRICS