The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) on Tuesday confirmed that the Port Harcourt Refinery has resumed production.
The PENGASSAN President, Festus Osifo, disclosed this to journalists at the end of the union’s National Executive Council (NEC) meeting in Abuja.
He said the refinery rehabilitation was made possible through stringent financial oversight and the active involvement of unions in the project’s management.
Osifo, who is also the president of the Trade Union Congress (TUC), noted that the refinery is producing products such as diesel, kerosene, and petrol through its distillation unit.
He blamed the past attempts to refurbish the refinery on the lack of transparency and accountability.
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He commended the establishment of a steering committee, including representatives from PENGASSAN and National Union of Petroleum and Natural Gas Workers (NUPENG) to ensure transparency and accountability.
Although the refinery’s functionality is a significant milestone, Osifo noted that the impact on fuel prices remained limited due to the devaluation of the naira.
He stressed that with the exchange rate at about N1, 700/$, the cost of goods, including petroleum products, would remain high.
Osifo reiterated PENGASSAN’s call for the adoption of the Nigeria Liquefied Natural Gas (NLNG) ownership model for managing the nation’s refineries.
He urged the government to involve reputable international oil companies with expertise in refinery management to achieve similar results for the nation’s refineries.
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