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The development has sparked concerns among fuel retailers about potential fuel shortages and price hikes.
The Nigerian National Petroleum Company Limited (NNPCL) has officially announced the shutdown of the Port-Harcourt Refinery, Rivers State, citing a month-long maintenance exercise.
The development has sparked concerns among fuel retailers about potential fuel shortages and price hikes.
According to the NNPCL, the shutdown is part of a planned maintenance schedule aimed at ensuring the refinery’s optimal performance.
In a statement on Saturday, the NNPCL confirmed that the facility would be shut down for a month for maintenance activities.
According to the NNPCL Chief Corporate Communications Officer, Olufemi Soneye, the shutdown will commence on Saturday, May 24.
“NNPC Ltd wishes to inform the general public that the Port Harcourt Refining Company will undergo a planned maintenance shutdown.
“This scheduled maintenance and sustainability assessment will commence on May 24, 2025,” he said.
Soneye added that the company is working with relevant stakeholders to ensure efficiency and transparency during the exercise.
“We are working closely with all relevant stakeholders, including the Nigerian Midstream and Downstream Petroleum Regulatory Authority to ensure the maintenance and assessment activities are carried out efficiently and transparently.”
However, fuel retailers in Eleme and Okrika communities, where the refinery is located, have expressed concerns about the impact of the shutdown on fuel supply.
“We are worried about the potential shortage of fuel and the attendant price hikes,” said a fuel retailer in Eleme.
“We urge the NNPCL to ensure that fuel supply remains uninterrupted during the maintenance period.”
The shutdown of the Port Harcourt refinery comes amid allegations of corruption and mismanagement of funds earmarked for the rehabilitation of the refinery.
SaharaReporters had earlier reported that the Economic and Financial Crimes Commission (EFCC) was investigating the sacked managing directors of the Port Harcourt Refining Company, Warri Refining and Petrochemical Company, and Kaduna Refining and Petrochemical Company over alleged mismanagement of funds amounting to $2,956,872,622.36.
The EFCC probe had revealed that N80 billion was found in the account of one of the sacked MDs, sparking further questions about the transparency and accountability of the NNPCL.
SaharaReporters also reported that the investigation implicated the immediate past Group Chief Executive Officer of NNPCL, Mele Kyari, and 13 other former senior executives.
“We are not surprised by the shutdown of the refinery,” said a source close to the EFCC investigation.
“The lack of transparency and accountability in the management of the refineries has been a recurring issue. We hope that the investigation will shed more light on the matter.”
The NNPCL has assured that fuel supply will remain uninterrupted during the maintenance period.
However, fuel retailers remain skeptical.
“We will be monitoring the situation closely,” said a fuel retailer in Okrika.
“If fuel supply is disrupted, it will have serious consequences for our businesses and the economy as a whole.”
The shutdown of the Port-Harcourt refinery has raised concerns about the stability of fuel supply in Nigeria, particularly given the country’s reliance on imported fuel.
The NNPCL’s assurance of uninterrupted supply during the maintenance period will be closely watched by fuel retailers and consumers alike.
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