Nigeria’s state-owned oil firm, NNPC Ltd, has announced the resumption of production at the Port Harcourt refinery.
This 210,000 barrel-per-day (bpd) refinery, which underwent a $1.5 billion upgrade, is expected to initially produce 60,000 bpd.
The refinery’s return to operation is a significant milestone for Nigeria, as it aims to reduce its reliance on costly fuel imports.
The Nigerian government has prioritized the revival of its state-owned refineries to enhance domestic fuel supply and boost the economy.
While the Port Harcourt refinery is the first to resume production, NNPC Ltd has four refineries in total.
The successful upgrade of the Port Harcourt refinery sets a positive precedent for the remaining refineries.
With the addition of the privately owned Dangote refinery, which began operations earlier this year and boasts a capacity of 650,000 bpd, Nigeria’s refining capacity is poised to significantly increase.
This increased capacity is expected to have a positive impact on the country’s fuel supply and economy.