Fresh Fuel Price Drop Hits Abia As NNPC Opens Direct Sales

The price of Premium Motor Spirit (PMS), commonly known as petrol, has decreased in Abia State.

The price, which previously ranged between ₦1300.00 and ₦1350.00, has now dropped to between ₦1150.00 and ₦1200.00.

This price reduction follows the Nigeria National Petroleum Corporation (NNPC)’s decision to open its portal for direct fuel requests and payments by members of the Independent Petroleum Marketers Association of Nigeria (IPMAN).

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EKO HOT BLOG reports that in Aba and Umuahia, several petroleum marketers have started sourcing fuel directly from the NNPC, contributing to the price drop.

Speaking during a press briefing on Monday, Mazi Oliver Okolo, the Executive Chairman of the IPMAN Aba branch, explained the reason behind the decrease. He attributed it to an improved supply flow from the NNPC and expressed optimism that prices would fall further.

“As of last Saturday, NNPC opened their portal for us to request fuel, which we have done, and we’ve also made payments. We expect NNPC to start supplying next week, and once they do, prices will likely drop even more,” Okolo said.

He emphasized that the price reduction is linked to improvements in the supply and distribution chain, with fuel being sourced directly from the NNPC. Okolo added that if the Aba depot becomes operational, prices could fall to as low as ₦900.00 per litre.

“We’re hopeful that, with direct supply from NNPC, we can sell fuel at a reasonable price with a fair margin. We’re also urging the state and federal governments, as well as NNPC, to ensure products reach the Aba depot and to fix the access roads to the depot,” Okolo stated.

He acknowledged the financial strain many IPMAN members face due to the high costs of sourcing fuel from third-party suppliers. Okolo also thanked Abia State Governor Alex Otti for initiating the rehabilitation of the Osisioma-NNPC-Ekeakpara road, a federal government road critical to fuel distribution.

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