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The Independent Petroleum Marketers Association of Nigeria (IPMAN) has blamed the prolonged delay in concluding a technical equity partnership between the Nigerian National Petroleum Company Limited (NNPC) Limited and two Chinese firms for denying Nigerians the benefits of lower petrol prices and improved fuel supply.
The association said the slow pace of the proposed partnership involving Sanjiang Chemical Company Limited and Xinganchen (Fuzhou) Industrial Park Operation and Management Company Limited has stalled efforts to revive and expand operations at the Warri and Port Harcourt refineries, leaving consumers to continue bearing the burden of high fuel costs.
Speaking with journalists on the sidelines of the Good Governance Summit organised by the Working People United (WOPU) in Abuja, the Zonal Secretary of IPMAN Eastern Zone (System 2E), Comrade Inimgba Emmanuel Okubowei, urged the management of NNPC Ltd to urgently conclude the agreement initiated through a Memorandum of Understanding ( MoU) signed on April 30, 2026.
Okubowei said every day of delay postpones the economic gains expected from the partnership, including increased domestic refining capacity, greater availability of petroleum products, fresh investments and enhanced investor confidence in Nigeria’s downstream oil sector.
According to him, Nigerians would continue to grapple with high petrol prices until more refineries become operational to create healthy competition in the market.
He argued that once the Chinese companies begin full operations at the Warri and Port Harcourt refineries, increased domestic refining and competition among operators would naturally drive down the pump price of Premium Motor Spirit (PMS), discourage monopolistic practices and guarantee a more stable supply of petroleum products.
“The delay is depriving Nigerians of the immense economic and social benefits expected from the investment,” he said, noting that millions of households and businesses are struggling with the high cost of petrol.
IPMAN therefore called on the Group Chief Executive Officer of NNPC Limited, Mr. Bashir Bayo Ojulari, to accelerate all outstanding processes needed to finalise the technical equity partnership.
The association also urged the NNPC Limited management to explain the reasons for the prolonged delay and provide Nigerians with a definite timeline for the commencement of the project, saying greater transparency and accountability would boost public confidence.
Okubowei maintained that timely execution of the agreement would strengthen Nigeria’s energy security, create jobs, stimulate economic growth and provide lasting relief to Nigerians through more affordable petroleum products.
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Recall that NNPC Limited had on April 30, 2026 in China the MoU with two Chinese firms to explore a partnership for the completion and operation of the Port Harcourt and Warri refineries.
According to a statement by Andy Odeh, NNPC Chief Corporate Communications Officer, the proposed collaboration will be structured as a technical equity partnership.
The framework, the company said, will cover the completion of outstanding work at the refineries, as well as their operation and maintenance.
NNPC added that the partnership will also explore the expansion and upgrade of the facilities to improve efficiency and profitability.
Ojulari said the agreement followed months of engagement between the parties.
“All parties recognise mutually beneficial opportunities for the development and long-term sustainable profitability of NNPC’s refining assets in Nigeria,” he said.
Ojulari said the MoU represents a step towards identifying technical partners to restart and expand the refineries.
He added that the discussions will also cover the development of petrochemical capacity and gas-based industrial hubs around the facilities.
“The MoU is a significant step on the journey towards identifying potential technical equity partners to restart and expand NNPC’s refineries,” he said.
