The CORAN Publicity Secretary, Eche Idoko, disclosed this in an interview on Wednesday.
The Crude Oil Refinery Owners Association of Nigeria has revealed the importance of restarting the Warri and Port Harcourt refineries.
According to the Association, the refineries will help reduce the price of petroleum products in Nigeria.
The CORAN Publicity Secretary, Eche Idoko, disclosed this in an interview on Wednesday.
Recall that while the old Port Harcourt Refinery with a 210,000-barrel-per-day capacity restarted operation on November 26, 2024, the 125,000 Warri refinery kicked off on December 30.
Reacting, Idoko noted that the rehabilitation of both refineries by the Nigerian government through the Nigerian National Petroleum Company Limited will reduce the price of PMS.
“The coming onstream of the Warri and Port Harcourt refinery is to make sure the price of petrol remains affordable for Nigerians.
“You would agree with me that against all norms, the petrol price has dropped in the last month. We still expect that the price will drop further,” he said.
Recall that in December 2024, the interplay of competition forced Dangote Refinery and NNPCL to slash their petrol prices to N935 and N965 per litre from N1040.