As a result of a welcomed development for Abia residents, the pump price of fuel has decreased from N1300.00-N1350.00 to between N1150.00 and N1200.00 per liter. This drop follows the launch of the Nigerian National Petroleum Company (NNPC) portal, allowing members of the Independent Petroleum Marketers Association of Nigeria (IPMAN) to directly request and pay for fuel.
The improved fuel supply situation has been noticeable across major areas of Abia, including Aba and Umuahia, as petroleum marketers now lift fuel directly from NNPC sources. According to Mazi Oliver Okolo, the Executive Chairman of IPMAN Aba branch, the opening of the NNPC portal marks a positive shift in fuel distribution that could lead to further price reductions.
In a statement on Monday, Okolo said, “With NNPC now improving supply flows, we believe the fuel price will further reduce. Since last Saturday, we have been able to place direct requests and make payments through the portal. By next week, once supplies begin, we expect even lower fuel prices.”
Okolo emphasized that a direct supply chain from NNPC is crucial for further decreasing fuel prices. He suggested that the Abia hinterland depots, such as the Aba depot, should also be made fully operational to support stable pricing. “The only sustainable way to ensure affordable fuel prices is by operationalizing hinterland depots and securing direct NNPC supplies,” he added.
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He also called for collaboration between NNPC, the federal government, and the Abia state government, especially in bringing petroleum products directly to Aba depots, whether imported or refined at the Port Harcourt refinery.
Okolo expressed optimism about achieving even lower prices, suggesting that, if the distribution issues are resolved, “fuel will be sold at about N900.00, below N1000.00 per liter.” The direct supply from NNPC, combined with improvements in the transportation chain, will help keep prices fair and stable. He further urged the state and federal governments to expedite the rehabilitation of roads leading to key depots.
The IPMAN Aba chairman pointed out that many marketers are facing financial challenges due to high costs incurred by purchasing fuel through third parties. He also acknowledged the efforts of the Abia State Governor, Alex Otti, for awarding contracts to rehabilitate the Osisioma-NNPC-Ekeakpara road, a significant route that falls under federal jurisdiction.
