Oil marketers under the Independent Petroleum Marketers Association of Nigeria (IPMAN) have urged the Nigerian National Petroleum Company Limited (NNPCL) to fast-track the proposed Technical Equity Partnership with two Chinese companies for the completion and operation of the Warri and Port Harcourt refineries.
IPMAN expressed concern that the conclusion of the agreement with Sanjiang Chemical Company Limited and Xinganchen (Fuzhou) Industrial Park Operation and Management Co. Ltd is taking too long. They argue that this delay is preventing Nigerians from benefiting from the expected economic and social impact of the investment.
This call was made in a statement by Comrade Inimgba Emmanuel Okubowei, Former Unit Chairman and Zonal Secretary, IPMAN Eastern Zone (System 2E), during a chat with journalists at the Good Governance Summit organised by the Working People United (WOPU) in Abuja.
The oil marketers stated that concluding the partnership would help restore refining capacity, increase competition in the downstream sector, and reduce petroleum product prices for Nigerians. The association noted that the partnership was initiated through the signing of a Memorandum of Understanding (MoU) on April 30, 2026, aimed at restoring and expanding the refineries’ operations.
Okubowei added that the agreement would strengthen Nigeria’s downstream petroleum sector, attract fresh investment, improve refining capacity, enhance product availability, and increase investor confidence in the oil and gas industry. He also stated that the completion of the partnership would help reduce petroleum prices through increased domestic refining capacity and stronger market competition.
IPMAN maintained that additional technically competent operators entering Nigeria’s refining industry would encourage efficiency and provide consumers with more affordable petroleum products. They argued that healthy competition remains one of the most effective ways to ensure fair pricing in Nigeria’s downstream petroleum sector, and that the entry of more operators into refining would reduce monopolistic tendencies and improve supply stability.
Okubowei appealed to NNPCL and its Group Chief Executive Officer, Engr. Bashir Bayo Ojulari, to accelerate all outstanding processes required for the successful conclusion of the Technical Equity Partnership. IPMAN also called on NNPCL to explain the reasons for the prolonged delay and provide a timeline for the project’s commencement.
The association said timely execution of the agreement would boost energy security, create employment opportunities, stimulate economic growth, and provide relief to Nigerians. IPMAN stressed that transparency, accountability, and timely communication from NNPCL would strengthen public confidence in the refinery partnership and reassure stakeholders that the project remains on track.
NNPCL had, in May 2026, signed an MoU with the two Chinese companies as part of efforts to restart and expand the Warri and Port Harcourt refineries. The agreement was executed in Jiaxing City, China, on April 30, 2026, with the MoU signed by Engr. Bashir Bayo Ojulari, Chairman of Sanjiang Chemical Company, Guan Jianzhong, and Chairman of Xinganchen (Fuzhou) Industrial Park Operation and Management Co., Ltd., Bill Bi.
The marketers maintained that stronger competition in the refining sector would help drive down fuel prices. The association concluded that Nigerians are eager to see the completion of the partnership as the country continues efforts to strengthen local refining capacity and reduce dependence on external supply sources.
