It came like a bolt from the blue last week Tuesday when the Nigerian National Petroleum Company Limited, NNPCL, announced the resumption of crude oil refining at the Port Harcourt Refining Company, PHRC, after years of inactivity.

Many Nigerians did not believe the news, obviously because of the many failed promises of resumption. Some Nigerians were also sceptical, more so as it would not drastically reduce the high cost of fuels due to the fully deregulated regime.

However, to us, it is a dream come true after many nightmare postponements. Nigeria is not just bouncing back in a big way as a crude refining nation, we are also on the threshold of assuming our rightful place as the hub of energy in the sub-Saharan African region. Port Harcourt’s economic life will be strongly re-energised, and so will the Eastern flank of the economy, all the way to the North.

We give President Bola Tinubu a pat on the back, not only for the steady recovery of our crude oil production capacity but also resumption of oil refining under his watch. In football, it does not matter who did all the dribbling. It is the one who scores the goal that gets all the attention.

It is so heartening that our dark days as a net importer of petroleum products are gradually getting behind us. With the steaming of Dangote Refinery towards its full installed capacity, the resuscitation of the bigger Port Harcourt Refinery, maturation of some modular refiners and even the installation of some blending plants in the Lekki Free Zone in Lagos, the fears of monopoly are also allayed. The nightmare of fuel scarcity will abate.

With this achievement, the question is: What next? How do we ensure that we would not “return to Egypt” a few months down the line? President Tinubu has already given the marching order for the restoration of the second Port Harcourt Refinery, Warri Refinery and Kaduna Refinery.

Also, the Presidency has mooted the idea of privatising the refineries. This disclosure, which was published on the “X” handle of Sunday Dare, a presidential media aide, has got many industry stakeholders wondering if officials were unaware that under the Petroleum Industry Act, PIA, the NNPCL which runs the government-owned refineries, is already a private company?

However, these concerns are understandable. We must do everything possible to ensure that the evils that assailed our refining culture are completely exorcised. The NNPCL should not see itself as anything less than other businesses in the sector already led by Dangote Refinery, for efficient operations.

We also call on the oil industry workers unions, particularly NUPENG and PENGASSAN which were part of the problems of the oil sector in the past, to shape up and help promote efficiency in the industry. (Vanguard Editorial)