The Independent Petroleum Marketers Association of Nigeria (IPMAN) has urged the Nigerian National Petroleum Company Limited (NNPCL) to quickly complete its proposed Technical Equity Partnership with two Chinese companies to revive and operate the Warri and Port Harcourt refineries.
The partnership involves Sanjiang Chemical Company Limited and Xinganchen (Fuzhou) Industrial Park Operation and Management Company Limited. Both companies signed a Memorandum of Understanding (MoU) with NNPCL on April 30, 2026, to support the rehabilitation, expansion, and operation of the two refineries.
Speaking in Port Harcourt on Sunday, IPMAN’s Eastern Zonal Secretary, Comrade Emmanuel Inimgba, expressed concern over the delay in finalising the agreement. He said the slow pace of the process is preventing Nigerians from enjoying the economic and social benefits that the investment is expected to bring.
According to Inimgba, completing the partnership would strengthen Nigeria’s downstream petroleum industry by increasing local refining capacity, attracting fresh investments, improving fuel supply, and boosting investor confidence in the country’s oil and gas sector.
He also highlighted the hardship many Nigerians are facing due to the high cost of Premium Motor Spirit (PMS), commonly known as petrol. He noted that rising fuel prices continue to place heavy financial pressure on households and businesses across the country.
Inimgba expressed confidence that fuel prices would eventually fall once the Chinese firms begin full operations at the Warri and Port Harcourt refineries. He explained that higher local refining capacity would reduce dependence on imported petroleum products while creating healthy competition among refiners, which could naturally lead to lower pump prices.
He added that competition is one of the most effective ways to ensure fair pricing in the downstream petroleum market. According to him, the entry of experienced technical partners would improve efficiency, discourage monopolistic practices, increase the steady supply of petroleum products, and benefit consumers through more affordable fuel.
The IPMAN official therefore appealed to the management of NNPCL, led by Group Chief Executive Officer Engr. Bashir Bayo Ojulari, to speed up all outstanding processes needed to conclude the Technical Equity Partnership.
He also called on the NNPCL leadership to publicly explain the reasons behind the prolonged delay and provide Nigerians with a clear timeline for when the project will begin.
Inimgba stressed that the public deserves regular updates on projects of national importance. He said greater transparency, accountability, and timely communication would strengthen public trust and reassure investors and other stakeholders that the refinery rehabilitation plan remains on track.
He further stated that completing the agreement without further delays would improve Nigeria’s energy security, create thousands of jobs, stimulate economic growth, and provide lasting relief to millions of Nigerians through more affordable petroleum products.
Industry observers believe that restoring the Warri and Port Harcourt refineries to full operation could play a major role in reducing Nigeria’s dependence on imported fuel and supporting the country’s long-term energy and economic development goals.
