Business

Port Harcourt refinery produces kerosene, diesel, 1.4m liters of PMS daily – NNPCL

Published

2 years ago

November 27, 2024

433 Views

The Nigerian National Petroleum Company Limited (NNPCL) has confirmed that the rehabilitated 60,000 barrels-per-day Port Harcourt Refinery is currently producing at least 1.4 million liters of Premium Motor Spirit (PMS) daily.

Addressing speculations that the refinery is non-operational, NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye, clarified on Tuesday that the facility is operating at 70% of its installed capacity, with plans to increase output to 90%.

“We are aware of unfounded claims by certain individuals suggesting that the refinery is not producing products. For clarity, the Old Port Harcourt Refinery is currently operating at 70% of its installed capacity, with plans to ramp up to 90%,” Soneye stated.

Breakdown of Production

Soneye detailed the refinery’s daily output, which includes:

1.4 million liters of Premium Motor Spirit (PMS) blended from Straight-Run Gasoline (Naphtha)
900,000 liters of Kerosene
1.5 million liters of Automotive Gas Oil (Diesel)
2.1 million liters of Low Pour Fuel Oil (LPFO)

The NNPCL reassured Nigerians of its commitment to meeting the country’s energy demands while ensuring that the refinery operates efficiently.

Business

NPA initiate trucks movement code to ease traffic at Lagos ports

The initiative is designed to ensure that each truck is matched exclusively to its designated empty container, eliminate multiple allocations, improve traffic management and enhance operational efficiency within the port corridor.

Published

2 days ago

July 30, 2026

OCHEFA

38 Views

The Nigerian Ports Authority (NPA) has introduced a movement code to streamline the movement of empty containers into seaport terminals and reduce traffic congestion caused by container trucks along the Apapa and Tin Can Island port corridors.

The Guardian reported that under the new policy, the movement code will serve as a unique identifier generated by a holding bay for every empty container uploaded to the Electronic Call-Up (ETO) platform.

The code must correspond with the details captured on the ETO system before trucks are granted access to port terminals.

In a notice issued to stakeholders, the NPA said the movement code has become a mandatory requirement for completing the truck-container matching process.

Truck drivers are required to obtain the code from designated holding bays before proceeding to the ports.

According to the authority, the initiative is designed to ensure that each truck is matched exclusively to its designated empty container, eliminate multiple allocations, improve traffic management and enhance operational efficiency within the port corridor.

Business

Okonjo-Iweala lauds Cardoso for stabilising Nigeria’s monetary environment

Okonjo-Iweala, gave the commendation on Thursday at the 7th Africa Emerging Markets Forum held in Abuja, with the theme: “Building Resilience Amidst Geo-economic Uncertainties.”

Published

2 days ago

July 30, 2026

OCHEFA

49 Views

The Director-General of the World Trade Organisation (WTO), Dr Ngozi Okonjo-Iweala, has commended the Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso, for stabilising Nigeria’s monetary environment.

Okonjo-Iweala, gave the commendation on Thursday at the 7th Africa Emerging Markets Forum held in Abuja, with the theme: “Building Resilience Amidst Geo-economic Uncertainties.”

Speaking at the forum, Okonjo-Iweala commended Cardoso on the work that he and his team have done on currency and monetary policy stabilisation.

However, she emphasised that Nigeria must sustain broader macroeconomic reforms.

“Nigerians have to feel the dividends of reform in the real economy,” she added.

The forum brought together policymakers, business leaders and development partners to discuss strategies for strengthening Africa’s resilience amid growing global economic uncertainty.

Business

Naira Exchange Rates Thursday, July 30 : Black Market, CBN, Commercial Bank

Sterling Bank publishes both a buy rate and a sell rate for USD, GBP, EUR, and ZAR. The buy rate is what Sterling Bank will pay you when you exchange foreign currency for Naira. The sell rate is what you will pay when buying foreign currency from Sterling Bank at its branches.