LunagisthubPetrol Price Relief Ahead? NNPCL Teams Up with Chinese Firms to Restart Port Harcourt, Warri Refineries
Nigerian motorists may finally get a break at the pump. Petroleum marketers say fresh petrol price cuts could be on the way after NNPCL signed a deal with Chinese companies to restart the long-dormant Port Harcourt and Warri refineries.
The announcement comes as Nigeria grapples with fuel costs that have nearly doubled due to the ongoing Middle East crisis.
On April 30, 2026, the Nigerian National Petroleum Company Limited (NNPCL) signed a Memorandum of Understanding with Chemical Company and Xinganchen (Fuzhou) Industrial Park Operation and Management Co. Ltd. The agreement is aimed at completing rehabilitation works on both Port Harcourt and Warri refineries.
The Port Harcourt refinery has been shut since May 2025 for scheduled maintenance. Alongside Warri and Kaduna refineries, it’s remained offline despite Nigeria spending an estimated $18-$25 billion on refinery rehabilitation over the past two decades. In the meantime,Dangote Refinery in Lagos has been the country’s main fuel lifeline.
With global oil prices spiking due to the Iran-US-Israel conflict, Brent and WTI crude now sit at $112 and $104 per barrel. The ripple effect? Petrol in Abuja jumped to N1,364–N1,380 per liter, up from around N800 just two months ago.
Higher fuel costs have pushed transport fares up nationwide, adding more pressure on households already facing economic hardship.
But marketers believe local refining could change that equation.
“The more refined products we get from any country, the higher the competition, driving down the price of any refined product, whether it’s PMS, AGO, aviation petrol, or any other,” said Billy Gillis-Harry, National President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN). “So it’s a good project. It’s been a long time coming, but now it’s there, so we are happy that this has happened.”
IPMAN spokesperson Chinedu Ukadike agrees the refinery restart is crucial right now. He also urged the Federal Government to introduce incentives for both Nigerians and marketers to cushion against petrol price volatility.
NNPCL’s new partnership with Chinese firms offers renewed hope for Nigeria’s refineries and potentially cheaper fuel. If Port Harcourt and Warri restart successfully, increased local refining could ease the pressure on petrol prices that have been driven up by global conflict.
Lunagisthub
