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Fuel Prices Set to Drop as Warri Refinery Resumes Operations

The Nigerian National Petroleum Company Limited (NNPCL) has announced the restart of the Warri Refinery, with a capacity of 125,000 barrels per day (bpd). This development, alongside operations at the Port Harcourt Refinery, is expected to boost local petroleum production and drive down fuel prices. The National Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) also projected intensified competition among oil marketers, promising relief for consumers.

NNPCL’s CEO, Mele Kyari, confirmed that the Warri Refinery is operating at 60% capacity and producing diesel, kerosene, and naphtha. He emphasized the government’s commitment to revamping all refineries to reduce reliance on imports. The move is expected to stabilize fuel supply, reduce foreign exchange pressure, and encourage modular refinery investments.

Industry experts, including IPMAN officials, praised the progress, noting its potential to significantly lower prices and benefit Nigeria’s economy. With Kaduna Refinery also set to resume operations, stakeholders anticipate increased competition and enhanced energy security for the country.

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