‘Petrol Prices In Nigeria Will Come Down’ – NMDPRA Boss Confirms As Port Harcourt Refinery Resumes Operation

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has confirmed that the price of petrol in Nigeria will crash in the coming days.

The NMDPRA Chief Executive Officer, Farouk Ahmed confirmed this on Tuesday while speaking to newsmen on the resumed operation of the Port Harcourt Refinery.

According to him, the operations of the Port Harcourt Refinery and the Dangote Refinery would ensure the availability of petroleum products and lead to a reduction in prices.

Ahmed added that with the refineries now functioning and the hope that Warri and Kaduna would soon come on board too, Nigeria is set to become a net exporter of petroleum rather than a net importer.

He praised the role played by President Bola Tinubu and other stakeholders in ensuring the resuscitation of the Port Harcourt Refinery.

He said: “Its a major milestone, major achievement to see Port Harcourt Refinery coming back on stream and holding stably. It is indeed a very proud moment for us and a relief because now with the Dangote Refinery on stream, Port Harcourt Refinery on stream, and we are hoping that Warri comes up and Kaduna, we’ll be the net exporter of petroleum products rather than being a net importer.

“It is an achievement that will be accredited to Mr. President of course because he insisted, he persisted, put all the pressure, he said it must be done and it has been done.

“And I congratulate the NNPC and he management of Port Harcourt Refinery for their focus. And also to the contractor, my colleagues, the regulators who are attached to the project, have been working day and night in collaboration with the contractor and management of Port Harcourt Refinery, I also wish to thank my colleagues for achieving this milestone.

“Products will be available nationwide. What is important is that there is now competition and there is a choice, and we will see the prices of the products come down because their is ample supply.”