Petrol marketers predict fuel price drop as NNPCL reignites hope on Nigerian refineries’ restart

Petroleum merchandise marketers and retailers person hinted astatine a imaginable caller petrol terms driblet arsenic Nigerian National Petroleum Company Limited, NNPCL, partners with Chinese firms to restart Port Harcourt and Warri refineries.

DAILY POST reports that aft a agelong wait, NNPCL connected April 30, 2026, signed a Memorandum of Understanding with Sanjiang Chemical Company and Xinganchen (Fuzhou) Industrial Park Operation and Management Co., Limited, to enactment the completion of Port Harcourt and Warri refineries.

Recall that successful May past year, the Port Harcourt refinery was unopen down for scheduled maintenance.

Since then, the state-owned refinery, unneurotic with Warri and Kaduna, has remained closed contempt gulping astir $18 cardinal and $25 cardinal connected rehabilitation for the past 2 decades. Dangote Refinery, a private-owned works successful Lagos, became the lifeline.

While statement connected the sustainability of the Nigerian refineries has remained critical, the Bayo Ojulari-led NNPCL’s caller determination with Chinese firms leaves much expectations successful the minds of stakeholders and Nigerians.

This becomes much important arsenic the implicit 2 months aged Middle East situation leaves Nigeria and planetary economies successful a precarious state.

The ripple effect of the Iran-United States-Israel warfare has made crude lipid and home petrol prices double.

Checks by DAILY POST showed that Brent AND West Texas Intermediate stood at...