Port Harcourt Oil Refinery: A step towards ending the monopoly in Nigeria’s oil market — Femi Fani-Kayode
The resumption of operations at the Port Harcourt Refinery (PHR) has raised hopes among Nigerians. Because this is a milestone in the country's petroleum industry after many years of inactivity. Thanks to the efforts of President Bola Tinubu and Mele Kyari, Group CEO of the Nigerian National Petroleum Company Limited (NNPCL), it is at work again. Former Minister of Aviation Femi Fani-Kayode presented in his X-handle in recognition of his dedication and leadership to achieve this feat.
The resumption of operations at the Port Harcourt Refinery (PHR) has raised hopes among Nigerians. Because this is a milestone in the country’s petroleum industry after many years of inactivity. Thanks to the efforts of President Bola Tinubu and Mele Kyari, Group CEO of the Nigerian National Petroleum Company Limited (NNPCL), it is at work again. Former Minister of Aviation Femi Fani-Kayode presented in his X-handle in recognition of his dedication and leadership to achieve this feat.
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He described the restoration of the refinery as “The most encouraging thing that has happened in the petroleum sector for many years,” Fani-Kayode stressed that the move could break the monopoly in the sale of refined petroleum products. and promote healthy competition in the market
According to Fani-Kayode, this development is a victory for Nigeria and a testament to the government’s commitment to revitalizing the nation’s energy sector. He warned against attempts by certain individuals to undermine this progress, particularly those he accused of trying to dominate the market as they have done with other commodities like cement, sugar, and rice. “The oil business is not the same as selling sugar, spaghetti, cement, or rice,” he said.
Former minister expresses hope for the future He urged stakeholders to allow public and private refineries to prosper. It is implied that Nigerians will benefit more from the rehabilitation of other refineries in the country as it will ultimately benefit the people.
Fani-Kayode also commended Mele Kyari for his resilience and innovative leadership, saying:
“Those who love Nigeria’s progress and who are true optimists and President Tinubu’s New Hope agenda will be proud. GMD Mele Kyari Perseverance, Courage, Ingenuity and his forthrightness was rewarded with this great success. Surely this is hope renewed for Nigerians.”
As the Port Harcourt Refinery begins operations, many Nigerians are hopeful that this will lead to reduced fuel prices and improved energy security. It is a step forward in the journey toward a more competitive and efficient petroleum industry that works for everyone.
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