FIC Report (Rivers State) – The Independent Petroleum Marketers Association of Nigeria (IPMAN) has hailed the Nigerian National Petroleum Company Ltd over the commencement of refining of petroleum products from the Port Harcourt Refinery.
The refinery commenced operation on Tuesday sparking optimism among stakeholders in the oil sector and Nigerians, who hailed NNPCL’s determined efforts to refine fuel locally for domestic use.
Commending the NNPCL, IPMAN chairman in Rivers State, Tekena Ikpaki, while addressing newsmen on Tuesday at the refinery site, expressed excitement over the resumption of the refinery, predicting a reduction in petroleum prices.
According to Ikpaki, the commencement of operations at the Port Harcourt refinery marked the end of monopoly in the industry, as there would now be competition between the refinery and Dangote.
This competition, he believes, would drive down prices and benefit Nigerians.
“There is competition in the system which is in favour of the entire Nigerians,” he said.
He expressed confidence that there would be price reduction, that would l benefit the entire nation.
The IPMAN chairman confirmed that trucks on Tuesday morning have been loading and departing from the refinery despite it being a test run.
He acknowledged that the refinery’s full capacity has not yet been reached but expressed optimism that it would soon be fully operational.
Signed
Gabriel Obokuru (HOC)
FIC, PORT HARCOURT
