….says product loading ongoing

The Nigerian National Petroleum Company Limited has insisted that the renovated Port Harcourt refinery is still working.

The state-owned oil giant clarified that preparations for loading operations on Saturday were underway.

This was contained in a statement by Olufemi Soneye, the NNPC’s Chief Corporate Communications Officer, on Saturday.

Soneye was reacting to a report that the refinery had stopped loading petroleum products barely one month after it was declared open.

According to him, the refinery is fully operational, as verified a few days ago by former NNPC Group Managing Directors. .

Saturday PUNCH had earlier reported that less than a month after the Port Harcourt Refining Company appeared to have resumed production, the facility had stopped working.

Reacting, Soneye said preparation for today’s loading was ongoing at the time of sending out the statement.

“The attention of the Nigerian National Petroleum Company Limited has been drawn to reports in a section of the media alleging that the Old Port Harcourt Refinery which was re-streamed two months ago has been shut down.

“We wish to clarify that such reports are totally false as the refinery is fully operational as verified a few days ago by former Group Managing Directors of NNPC.

“Preparation for the day’s loading operation is currently ongoing,” he said in the statement.

He urged members of the public to disregard the report saying the malicious reports were the work of individuals attempting to create artificial scarcity and exploit Nigerians.

“Members of the public are advised to discountenance such reports as they are the figments of the imagination of those who want to create artificial scarcity and rip-off Nigerians,” he stressed.

Olatunji Grace, a social media user with the handle @Tunjigrace, expressed her frustration, questioning the intentions of those who wish for things to go wrong in Nigeria. 

She criticised individuals who discredit positive developments, stating, “Who are these people? 

Does any other nation have such unfortunate citizens who pray for failure?”

 She also expressed disappointment in a report by Punch Newspaper, describing it as “devilish and stupid journalism” that hides behind the guise of a “report.”

Another user, Patrick @Williamskane4, accused news media organisations of working with opposition political parties to spread fake news and misinformation.

He stated, “In collaboration with some opposition political parties, they spread lies, making propaganda their trade.”

Meanwhile, another user, Sarki @Waspapping_, defended the Old Port Harcourt Refinery’s operations, stating that the refinery is fully functional.

He questioned why some individuals and media outlets were spreading false narratives about shortages, claiming they aimed to exploit Nigerians.

Sarki emphasised that such misinformation benefits those who profit from scarcity and high prices and urged Nigerians to see through the lies and support local production efforts.

For decades, efforts to revive the Port Harcourt Refining Company (PHRC) seemed insurmountable. However, under Mele Kyari’s leadership, the once-elusive goal has been realised, signalling a critical step toward achieving energy self-sufficiency. This success is not only a milestone for the NNPCL but a testament to Kyari’s resolve to transform Nigeria’s energy landscape.

The Port Harcourt Refinery Company in Eleme is a sprawling facility divided into a 60,000-barrel-per-day-old refinery, and a new one capable of refining 150,000 barrels per day. The old refinery, operational since 1965, is Nigeria’s first refinery and had remained idle since 1990 when the newer unit became the primary production hub.

After over 30 years of dormancy, the old Port Harcourt refinery, which has a unique configuration where one barrel of crude oil yields a maximum of 23–24 per cent gasoline, was recently reopened by the NNPC Limited amid shock by forces against the revival of the country’s four refineries.  

After the $1.5 billion approved by the Federal Government in 2021 for the comprehensive rehabilitation of the refinery had been judiciously spent, the NNPCL under Kyari’s sound leadership, reopened the Old Port Harcourt Refinery on Tuesday, November 26, 2024.

Today, the old Port Harcourt refinery is currently producing straight-run gasoline (Naphtha) blended into 1.4 million liters of PMS daily; 900,000 liters of kerosene; 1.5 million liters of Automotive Gas Oil (Diesel); 2.1 million liters of Low Pour Fuel Oil (LPFO), and additional volumes of Liquefied Petroleum Gas (LPG), also known as cooking gas.

Attempts by sceptics to rubbish the achievement recorded with the 60,000-barrel-per-day Port Harcourt refinery had been roundly repudiated by the NNPCL, workers at the refinery, experts, and delegates from the Presidency, Nigeria Labour Congress, Trade Union Congress, Petroleum and Natural Gas Senior Staff Association of Nigeria, and Nigeria Union of Petroleum and Natural Gas Workers.

President of Dangote Industries Limited, Aliko Dangote, has commended President Bola Tinubu for the positive impact of the naira for crude swap deal on the Nigerian economy, which has led to a reduction in prices of petroleum products in the country.

The refinery also announced its partnership with MRS Petrol station to sell petrol from its retail outlets nationwide at N935 per litre.

The firm made the announcement in a statement posted on its social media handles on Saturday.

It said the partnership is to ensure that this price reduction gets to the end consumers.

Recall that on Thursday, the 650,000 barrels per day refinery announced an N71 price reduction to N899.50 for interested marketers while offering credit facilities to ease off taking.

The development has promoted a pricing war in the downstream sector, with the National Nigerian Petroleum Company Limited announcing a price reduction to N899 per litre.

The statement read, “Foremost entrepreneur and President of the Dangote Industries Limited, Aliko Dangote, has commended President Bola Ahmed Tinubu for the positive impact of the naira for crude swap deal on the Nigerian economy, which has led to a reduction in prices of petroleum products in the country.

“To provide succour to Nigerians, Dangote recently reduced the price of Premium Motor Spirit from N970 to N899.50 at its Refinery loading gantry and provided generous credit terms to marketers.

“To ensure that this price reduction gets to the end consumer, we have signed a partnership with MRS to sell petrol from its retail outlets nationwide at N935 per litre.”

This price has already commenced in Lagos, and it will be offered nationwide from Monday.

In the statement, Dangote also called on other oil marketers such as the NNPC retail and all others, “To work with us to ensure that Nigerians enjoy high-quality petrol at discounted prices.

“The Dangote Refinery is for the benefit of Nigeria and Nigerians. We will, therefore, continue to work with various value chain players to deliver high-quality petrol at cheaper prices. Our aim is for all Nigerians to have ready access to high-quality petroleum products that are good for their vehicles, good for their health, and good for their pockets.”

The United Arab Emirates (UAE) has announced new regulations allowing expatriate retirees aged 55 and above to apply for a 5-year residency visa.

The move is part of the government’s effort to provide greater flexibility for retirees who wish to live in the country after their working years.

According to Gulf News, the Federal Authority for Identity, Citizenship, Customs, and Port Security (ICP) introduced the new residency and ID card regulations for retirees.

The new visa will allow retirees to stay in the UAE for five years and can be renewed if the applicant continues to meet the specified requirements.

Eligibility requirements for the new residency visa 

To qualify for the 5-year residency visa, expatriates must meet several criteria. Firstly, applicants must have worked for at least 15 years, either inside or outside the UAE. Additionally, applicants must fulfil one of the following financial conditions:

• Own property worth at least Dh1 million, or
• Have savings of at least Dh1 million, or
• Receive a monthly income of at least Dh20,000 (or Dh15,000 if residing in Dubai).

Furthermore, applicants must provide a bank statement from the last six months to verify their financial status. The residency visa will be valid for five years and is renewable if the individual continues to meet the necessary conditions.

The application process for retired residents 

According to reports, the ICP has outlined a clear process for applying for a residency visa and UAE ID card for retirees.

• The application can be completed through the official ICP website or the UAEICP smart application.
• Applicants will need to log in using their UAE Pass, select the appropriate residency and ID services, and then review and update their data.
• After this, the required fees must be paid, and the residency card will be delivered through approved companies.

Special regulations for retirees in Dubai 

In addition to the federal regulations, Dubai has introduced its own set of regulations designed specifically to attract retirees.

The Dubai program allows foreign nationals, their spouses, and dependents to apply for a renewable 5-year residency visa, provided certain financial conditions are met. The applicant must be at least 55 years old and meet one of the following financial criteria:

• An annual income of at least Dh180,000 or a monthly income of Dh15,000,
• Financial savings of Dh1 million in a fixed deposit for three years,
• Investment in unmortgaged property worth at least Dh1 million,
• A combination of the second and third options, totalling Dh1 million, with at least Dh500,000 allocated to a fixed deposit for three years and the remaining Dh500,000 in the property.

These options aim to offer retirees flexibility in meeting the financial requirements for long-term residency in Dubai.

Providing security for retirees 

Reports inform that the introduction of these residency visas is part of the UAE’s ongoing effort to create a more welcoming environment for expatriates.

• The new initiatives offer retirees the opportunity to settle in the country, enjoying their retirement years with greater financial security and flexibility.
• Further details reveal that the UAE has been focusing on attracting long-term residents, including retirees, through various visa programs designed to support both economic growth and community stability.
• These steps are expected to help retirees feel more secure in their post-retirement life, knowing they can continue to live in a country with a high standard of living and comprehensive healthcare services.
• The move also aligns with the UAE’s broader vision to diversify its economy and attract global talent across various sectors.