The Independent Petroleum Marketers Association of Nigeria (IPMAN), Eastern Zone, has expressed concern over the delay in finalising the proposed Technical Equity Partnership between the Nigerian National Petroleum Company Limited (NNPCL) and two Chinese firms.
The association warned that the delay could slow efforts to expand local refining capacity, improve fuel availability and reduce petrol prices.
Speaking at the Good Governance Summit organised by Working People United in Abuja, the Secretary of IPMAN Eastern Zone, Inimgba Emmanuel, said the partnership would attract fresh investment, strengthen the downstream petroleum sector and deliver significant economic benefits to Nigerians.
He noted that many Nigerians continue to grapple with high fuel costs, adding that increased domestic refining and healthy competition would help lower pump prices, improve efficiency and ensure a more stable supply of petroleum products across the country.
