Nigeria’s independent petroleum marketers have called on the Nigerian National Petroleum Company Limited (NNPCL) to quickly conclude its planned Technical Equity Partnership with two Chinese companies for the completion and operation of the Warri and Port Harcourt refineries.
According to the Independent Petroleum Marketers Association of Nigeria (IPMAN), the delay in finalising the agreement is slowing down efforts to improve local fuel production and preventing Nigerians from enjoying the economic benefits expected from the project.
The appeal was made by Comrade Inimgba Emmanuel Okubowei, former Unit Chairman and Zonal Secretary of IPMAN Eastern Zone (System 2E), during the Good Governance Summit organised by Working People United (WOPU) in Abuja.
Okubowei explained that the proposed partnership with Sanjiang Chemical Company Limited and Xinganchen (Fuzhou) Industrial Park Operation and Management Co. Ltd is expected to revive the Warri and Port Harcourt refineries, increase local refining capacity, and create a more competitive downstream petroleum market.
He noted that stronger competition among refiners would help improve efficiency, increase the availability of petroleum products, and ultimately reduce fuel prices for consumers.
The agreement began with the signing of a Memorandum of Understanding (MoU) on April 30, 2026. IPMAN believes the project has the potential to transform Nigeria’s refining industry by attracting fresh investments and restoring confidence in the country’s oil and gas sector.
According to the association, completing the partnership would reduce Nigeria’s dependence on imported petroleum products while strengthening domestic refining operations. This would also help ensure a more stable fuel supply across the country.
IPMAN stressed that allowing more technically qualified operators into Nigeria’s refining industry would discourage monopolistic practices and encourage fair competition. The association argued that increased competition remains one of the most effective ways to ensure that fuel prices reflect actual production costs.
Okubowei therefore appealed to the Group Chief Executive Officer of NNPCL, Engr. Bashir Bayo Ojulari, to speed up all remaining processes required to finalise the partnership.
He also asked NNPCL to explain the reasons behind the prolonged delay and provide Nigerians with a clear timeline for when the project will begin.
According to IPMAN, completing the refinery partnership on schedule would not only improve energy security but also create thousands of jobs, stimulate economic growth, and provide long-term relief for consumers facing high fuel costs.
The association added that transparency, accountability, and regular communication from NNPCL would strengthen public confidence and reassure stakeholders that the refinery rehabilitation project remains on course.
NNPCL had earlier signed the Memorandum of Understanding with the two Chinese companies in Jiaxing City, China, as part of its strategy to complete and expand the Warri and Port Harcourt refineries.
IPMAN maintained that Nigerians are eager to see the project move forward, expressing confidence that increased local refining capacity will improve fuel availability, reduce dependence on imported products, and eventually bring down petrol prices across the country.
