Port Harcourt Refinery Is Working – Tinubu’s Aide

The Senior Special Assistant to President Bola Tinubu on Public Engagement, Fredrick Nwabufo, has said the Port Harcourt Refinery that reportedly commenced operation on Tuesday was one of the many possibilities of the President’s administration.

Fredrick Nwabufo said the argument about the refinery resulted from the long years it had been abandoned.

Nwabufo decried that many previous administrations failed to restart the country’s four refineries, leading to a loss of revenue until the administration of former president, Muhammadu Buhari, came on board.

“I was a witness to history yesterday, November 26, 2024 — the inauguration of the old Port Harcourt Refinery. Yes, it has come alive again. It is operational. To put it in our lingo, ‘’it is working’’. It has received a new elixir after many years of lethargy.

“The 60,000 barrels-per-day old Port Harcourt Refinery, which was established in 1965, had suffered a series of aborted potential. Certain previous administrations had failed to restart this critical national asset. In March 2021, the Buhari administration awarded the contract for the rehabilitation of the refinery and repair works began in phases.

“The President has undertaken bold and surgical reforms in the oil and gas sector. He issued five executive orders to unlock over $2.5 billion in oil and gas investments, among other initiatives. With his support for achieving local refining capacity, today, the billions of dollars previously spent annually on petrol subsidy, which puts pressure on the naira, can be repurposed, and with new opportunities opening up in the sector,” Nwabufo said.

Addressing the reports that the Nigerian National Petroleum Company Limited (NNPCL) bought ‘C5 Resins from Indorama and blended with Naphtha to sell as fuel to Nigerians, Tinubu’s aide said the reports were false.

He also explained that other concerns about the refinery, including its sustainability,y would be addressed by Tinubu’s administration.

“The launch of the revamped plant on Tuesday was successful but not without an expected sputter of heterogeneous reactions.

“During a guided tour, journalists, industry leaders, and other stakeholders were conducted around the organs of the facility. From the control room to the processing units, the tanks, and the loading area where trucks were stationed to lift products. The plant was well and running.

“There are well-founded concerns about the sustainability of the refinery. This is the plausibility factor. But one thing is certain about the Tinubu administration, there will be no unfinished business as regards securing Nigeria economically and ensuring the best outcomes for citizens across all sectors. With every horizon comes fresh possibilities, the administration is determined in its purpose of advancing the nation,” Nwabufo added.