Fuel Prices Fall in Abia as NNPC Opens Portal for Direct Supply to Marketers

Fuel prices in Abia State drop significantly as the Nigeria National Petroleum Company (NNPC) launches a portal for direct fuel requests and payments from independent petroleum marketers.

Fuel prices in Abia State have experienced a noticeable reduction, dropping from N1,300–N1,350 to between N1,150 and N1,200 per litre. This welcome decline follows the Nigeria National Petroleum Company’s (NNPC) decision to open a portal for direct requests and payments from Independent Petroleum Marketers Association of Nigeria (IPMAN) members. With direct access to fuel supplies, marketers in Aba and Umuahia have begun to source petroleum products straight from NNPC, contributing to the drop in prices across the state.

The Executive Chairman of IPMAN’s Aba branch, Mazi Oliver Okolo, confirmed this development in an interview, stating, “The fuel supply situation has improved, and we expect prices to fall further in the coming weeks. Since last Saturday, NNPC has allowed us to request fuel directly through their portal, and we’ve already made payments. Once the supply process starts next week, we anticipate further price reductions.”

NNPC opens portal for direct supply, a move that is expected to stabilize the market and ease distribution challenges. Okolo further explained, “This improvement in the supply chain is crucial for bringing down costs. If hinterland depots, like the one in Aba, are fully operational, fuel prices could drop even lower.”

He called on both state and federal governments, alongside NNPC, to collaborate in ensuring a steady fuel supply to Aba, whether from imported sources or through the Port Harcourt refinery. Okolo emphasized that once these logistical issues are addressed, NNPC’s direct supply portal could help bring fuel prices down to N900 or even below N1,000 per litre.

Government Support and Challenges:

Okolo acknowledged the Abia State government’s efforts to rehabilitate critical infrastructure, including the Osisioma-NNPC-Ekeakpara road, a major route to the depot. He expressed optimism that these repairs would further enhance supply efficiency and reduce the reliance on third-party distributors, who currently add significant costs to the fuel price.

However, he noted the challenges faced by IPMAN members, particularly the decline in their capital base due to high fuel sourcing costs from intermediaries. He urged both the federal and state governments to work alongside IPMAN to make fuel more affordable for the public.

“Once the road to the depot is fixed, and we consistently receive products directly from NNPC, fuel will not only be more available but also much cheaper,” Okolo added.