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Subsidy Removal: FG Announces Date for Commencement of Operations at Nigeria’s Largest Refinery Company

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Subsidy Removal: FG Announces Date for Commencement of Operations at Nigeria's Largest Refinery Company

In a significant development for Nigeria’s energy sector, Senator Heineken Lokpobiri, the Minister of State for Petroleum Resources, has declared that the Port Harcourt Refinery Company is slated to initiate operations by December of this year. During a recent inspection of the rehabilitation efforts at the Port Harcourt Refining Company plant in Rivers State, the minister, accompanied by Minister of State for Petroleum (Gas) Ekperikpe Ekpo, expressed confidence in the project’s progress. He affirmed that the refinery’s revival is on course and is expected to become operational before the close of the year.

Minister Lokpobiri’s announcement is part of a broader strategy aimed at enhancing Nigeria’s energy independence. He emphasized that the collective rehabilitation endeavors for the Port Harcourt, Warri, and Kaduna refineries, combined with the imminent commissioning of the Dangote Refinery, are poised to position the country as self-sufficient in fuel production. This move is anticipated to lead to a reduction in fuel importation and offer Nigerians the full advantages of deregulation.

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The positive outcome of rehabilitating these refineries extends beyond fuel availability. Minister Lokpobiri highlighted that a successful revival of these facilities will contribute to an improved supply of petroleum products. Additionally, it will play a pivotal role in domesticating foreign exchange, thereby bolstering the country’s economy.

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As Nigeria gears up to witness the resurgence of its largest refinery company, the prospects of reduced reliance on fuel imports and a strengthened economy stand as promising developments on the horizon.

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