NNPC Launches Direct Supply Portal, Leading To Decrease In Fuel Prices In Abia

NNPC Launches Direct Supply Portal, Leading To Decrease In Fuel Prices In AbiaThe price of fuel in Abia has decreased from between N1,300 and N1,350 per litre to between N1,150 and N1,200, following the Nigeria National Petroleum Company (NNPC) opening its portal for direct requests and payments from members of the Independent Petroleum Marketers Association of Nigeria (IPMAN).

Reports from Abia indicate that some marketers in Aba and Umuahia have begun directly lifting fuel from the NNPC, contributing to the price drop. In an interview on Monday, Mazi Oliver Okolo, the Executive Chairman of the IPMAN Aba branch, attributed the price reduction to improved supply flows from the NNPC.

“Last Saturday, NNPC opened their portal for our requests, which we have utilized,” Okolo stated. “We believe that by next week, NNPC will start supplying us, and when that happens, we expect further decreases in fuel prices.”

He emphasized that a direct supply chain from the NNPC is key to driving down fuel prices. “The only way to reduce prices to a minimum is to have the hinterland depots, like Aba, operational,” he added.

Okolo suggested that collaboration among the NNPC, the state government, and the federal government could facilitate the delivery of products to the Aba depot, whether imported or refined at the Port Harcourt refinery. “I can assure you that fuel could be sold for around N900 or below N1,000 per litre,” he said.

He reiterated that once PMS (fuel) is supplied directly from the NNPC, it would be sold at reasonable prices with appropriate margins. Okolo also called on the state and federal governments to ensure that products reach the Aba depot and to repair the roads leading to it.

Addressing the challenges facing IPMAN members, he lamented that many marketers have low capital due to high costs associated with sourcing fuel through third parties. He expressed gratitude to the state governor, Alex Otti, for awarding a contract for the rehabilitation of the Osisioma-NNPC-Ekeakpara road, which is under federal jurisdiction.

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