Bulk petroleum marketers in Port Harcourt have publicly challenged the explanation given by the Group CEO of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, for shutting down the Port Harcourt refinery.
The disagreement stems from Ojulari’s recent revelation that the refinery was losing between N300 million and N500 million monthly before operations were suspended.
He stated that the facility was processing less than 40% of the 50,000 barrels of crude it was receiving, making it financially unsustainable.
However, the Host Community Bulk Petroleum Retailers, represented by official Joseph Obele, rejected this justification.
In a statement, the group alleged that Ojulari’s comments confirm their suspicions that he is prioritizing the interests of a private refinery over the nation’s public assets.
They argued that the refinery, despite recent costly revamps, was shut down unnecessarily and could have continued operating while a long-term solution was sought. The retailers called on President Bola Tinubu to intervene and ensure the Port Harcourt, Warri, and Kaduna refineries are made functional to boost the economy and create jobs.
This clash occurs alongside Ojulari’s earlier statement that meeting the President’s mandate for increased oil production and refining capacity would require approximately $60 billion in new investments, contingent on investor confidence and strong partnerships.
Dele Fashomi, seasoned journalist and communication teacher, is a holder of Master of Arts degree in Communication and Language Arts from the University of Ibadan in 1992/93.
Earlier, he had bagged a Bachelor degree from the same university in 1984, after which he proceeded to the Nigerian Institute of Journalism, Lagos, in 1990, for a postgraduate diploma in Journalism.
He had done many courses in communication, including the EU-BBC Editing Course in 2002.
Mr. Fashomi combines effectively the practice, research and teaching of communication. And to date, he has published two academic works in communication: Issues in Communication Technology and Policy (2010) and Economic and Social Issues in Advertising and PR (2013).
He had his first break in the Nigerian media in Concord Newspapers in 1990 and today, he has over two and half decades experience earned in several newspapers.
He has been part of many start-ups, such as The Republic (1987), The Comet (1999), The Anchor 2001 – 2002; Sun Newspapers (2003); Westerner newsmagazine (2005 – 2010) as Editor; National Life (2011) as Sunday Editor, and Newswatch Newspapers (2012- 2016) as Daily Editor.
Dele Fashomi is now the Publisher/Editor-in-Chief of Newstide247.com newspaper online, which he started in July 2015. He is also into biography writing, with many books in his trail, some of which he wrote alone and one he co- authored with his mentor, Mr Dare Babarinsa, entitled: Olabiyi Durojaiye – DARE TO BE DiFFERENT. He also guided and collaborated with Pa Olatunji Odusanya in writing his autobiography – AGAINST ALL ODDS. There are many other books in the works under his pen.
