The pump price of fuel in Abia State has decreased, dropping from N1,300-N1,350 per litre to between N1,200 and N1,150. This reduction follows the Nigeria National Petroleum Company (NNPC) opening its portal for direct requests and payments by members of the Independent Petroleum Marketers Association of Nigeria (IPMAN).
Reports from Aba and Umuahia indicate that several petroleum marketers have begun lifting fuel directly from the NNPC, resulting in a noticeable decrease in fuel prices in the area.
In an interview on Monday, Mazi Oliver Okolo, Executive Chairman of IPMAN Aba branch, attributed the price drop to improved fuel supply from the NNPC. He expressed optimism that prices could fall even further in the coming weeks.
“The supply flow from the NNPC has improved, and we believe that it will go down further,” Okolo said. “As of last Saturday, the NNPC opened their portal for us to make requests, which we have done, and we’ve also completed payments. We expect that by next week, the NNPC will begin supplying, and prices will further decrease.”
Okolo emphasized that the price drop is largely due to a more direct supply and distribution chain from the NNPC. He also highlighted the importance of reviving depots, particularly in Aba, to further stabilize and reduce fuel prices.
“The only way to bring fuel prices down to the barest minimum is when hinterland depots like Aba start working,” Okolo stated, adding that collaboration between the NNPC, state, and federal governments could facilitate getting products to the Aba depot, whether through importation or local refining at the Port Harcourt refinery.
He expressed confidence that, with direct NNPC supply, fuel could soon be sold at about N900 per litre or below. Okolo also called for the urgent rehabilitation of the Osisioma-NNPC-Ekeakpara road, a key route to the depot, acknowledging the efforts of Governor Alex Otti for awarding the road’s repair contract.
“Once PMS (Premium Motor Spirit) is supplied to us directly from the NNPC, the product will be sold at a reasonable price with a reasonable margin,” Okolo assured. He also lamented the financial strain on IPMAN members, whose capital has been significantly affected by the high cost of sourcing fuel through third parties.
Nonetheless, he expressed gratitude to the state government for its efforts to improve the region’s infrastructure and urged continued cooperation to ensure affordable and accessible fuel for Abia residents.
