IPMAN Urges Swift Refinery Partnership Action From NNPCL
IPMAN wants NNPCL to fast-track the refinery partnership to improve refining capacity, attract investment, and reduce petrol prices.
Independent Petroleum Marketers Association of Nigeria has urged NNPCL to speed up the refinery partnership process with Chinese investors. IPMAN believes the move will strengthen Nigeria’s downstream petroleum sector, improve local refining, and help reduce fuel costs for consumers.
Former Unit Chairman and current Zonal Secretary of IPMAN Eastern Zone (System 2E), Comrade Inimgba Emmanuel Okubowei, appealed to the Nigerian National Petroleum Company Limited (NNPCL) to complete every outstanding step needed for its proposed technical equity partnership with Sanjiang Chemical Company Limited and Xinganchen (Fuzhou) Industrial Park Operation and Management Co. Ltd. He said the delay has prevented Nigerians from enjoying the expected economic and social gains linked to the investment.
The partnership began with the signing of a Memorandum of Understanding (MoU) on 30 April. Its goal is to complete and operate the Warri and Port Harcourt Refineries while expanding their refining capacity. Speaking to journalists in Abuja during the Good Governance Summit, organised by Working People United (WOPU), Okubowei called on NNPCL to move the agreement forward without further delay.
He explained that the refinery partnership would attract new investment, improve domestic refining, increase fuel supply, and boost investor confidence in Nigeria’s oil and gas industry. He also raised concerns about the growing hardship caused by high petrol prices, noting that many families and businesses continue to struggle with rising fuel costs.
Okubowei expressed confidence that petrol prices would fall once Sanjiang Chemical Company Limited and Xinganchen (Fuzhou) Industrial Park Operation and Management Co. Ltd begin full operations at the Warri and Port Harcourt Refineries. He added that stronger local refining and healthy market competition would naturally support fair pricing across the downstream petroleum sector.
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