Oil marketers under the Independent Petroleum Marketers Association of Nigeria have called on the Nigerian National Petroleum Company Limited to expedite its proposed Technical Equity Partnership with two Chinese firms to complete and operate the Warri and Port Harcourt refineries.

The marketers expressed concern over the prolonged delay in finalising the agreement, warning that the slow pace is denying Nigerians the anticipated economic and social benefits expected from the refinery rehabilitation and investment.

This was disclosed in a statement by the former Unit Chairman and Zonal Secretary of IPMAN Eastern Zone (System 2E), Comrade Inimgba Emmanuel Okubowei, during an interview with journalists at the Good Governance Summit organised by Working People United in Abuja.

The marketers said finalising the proposed Technical Equity Partnership with Sanjiang Chemical Company Limited and Xinganchen (Fuzhou) Industrial Park Operation and Management Co. Ltd would accelerate the restoration of the Warri and Port Harcourt refineries, boost domestic refining capacity, promote competition in the downstream petroleum sector, and ultimately lower fuel prices for Nigerians.

The association noted that the partnership, initiated through the signing of a Memorandum of Understanding on April 30, 2026, is expected to facilitate the completion, rehabilitation, and commercial operation of the Warri and Port Harcourt refineries.

“The Eastern Zone of the Independent Petroleum Marketers Association of Nigeria (IPMAN) has called on the Nigerian National Petroleum Company Limited (NNPCL), under the leadership of its Group Chief Executive Officer, Engr. Bashir Bayo Ojulari, to expedite the conclusion of the proposed Technical Equity Partnership with the two Chinese companies—Sanjiang Chemical Company Limited and Xinganchen (Fuzhou) Industrial Park Operation and Management Co. Ltd—for the completion and operation of the Warri and Port Harcourt Refineries.

“The Eastern Zone of the Independent Petroleum Marketers Association of Nigeria (IPMAN) has called on the Nigerian National Petroleum Company Limited (NNPCL), under the leadership of its Group Chief Executive Officer, Engr. Bashir Bayo Ojulari, to expedite the conclusion of the proposed Technical Equity Partnership with the two Chinese companies—Sanjiang Chemical Company Limited and Xinganchen (Fuzhou) Industrial Park Operation and Management Co. Ltd—for the completion and operation of the Warri and Port Harcourt Refineries,” he said.

Okubowei said the proposed partnership would strengthen Nigeria’s downstream petroleum sector by attracting fresh investment, boosting domestic refining capacity, improving the availability of petroleum products, and enhancing investor confidence in the oil and gas industry.

He added that completing the agreement would help reduce fuel prices by increasing local refining output and fostering greater competition in the downstream market.

According to IPMAN, the entry of additional technically competent operators into Nigeria’s refining industry would improve operational efficiency, promote healthy competition, and ultimately make petroleum products more affordable for consumers.

The marketers said healthy competition remains one of the most effective mechanisms for ensuring fair pricing in Nigeria’s downstream petroleum sector, arguing that the entry of more refining operators would curb monopolistic tendencies and strengthen the stability of petroleum product supply.

Okubowei said the proposed partnership would promote competition, improve operational efficiency, and ensure that the benefits of lower production costs are passed on to consumers through reduced pump prices.

He therefore appealed to the Nigerian National Petroleum Company Limited and its Group Chief Executive Officer, Engr. Bayo Bashir Ojulari, to expedite all outstanding processes needed to finalise the Technical Equity Partnership.

IPMAN called on the Nigerian National Petroleum Company Limited to explain the reasons for the prolonged delay in concluding the Technical Equity Partnership and to provide a clear timeline for the commencement of the project.

The association said the timely execution of the agreement would strengthen Nigeria’s energy security, create jobs, stimulate economic growth, and deliver much-needed relief to Nigerians through improved fuel availability and lower prices.

It added that greater transparency, accountability, and timely communication from NNPCL would boost public confidence in the refinery partnership and reassure stakeholders that the project remains on course.