The Nigerian National Petroleum Company (NNPC) Limited has increased the pump price of premium motor spirit (petrol) to N950 per litre in Abuja and N925 per litre in Lagos, effective April 2, 2025.
A Fresh Price Surge
The latest adjustment marks a N65 increase from the previous N860 per litre in Lagos and a N70 hike from the former N880 per litre in Abuja and the North.
This development follows a similar move by MRS and other independent marketers, who recently raised their pump prices to N930 per litre in Lagos and N960 per litre in northern Nigeria.
Why the Increase?
Oil industry experts attribute the hike to changes in Nigeria’s fuel market, particularly Dangote Refinery’s decision to stop selling petroleum products in naira. Other contributing factors include:
- Rising global oil prices
- Foreign exchange fluctuations
- Higher crude oil costs
Where Are Prices Changing?
- In Lagos, NNPC stations along Lagos-Ibadan Expressway, Ikorodu Road, Fadeyi, Ago Palace Way, Ogba, and Ikeja have adjusted prices to N925 per litre.
- In Abuja, NNPC’s Kubwa Expressway station and others in Wuse now sell at N950 per litre.
- Some NNPC stations may experience delays in updating prices due to supply chain constraints.
A Trend of Fuel Price Adjustments
The hike follows months of price fluctuations. In March 2025, NNPC lowered petrol prices to N860 per litre to compete with Dangote Refinery. However, escalating costs have led to this latest surge.
Earlier, in December 2024, NNPC sold petrol at N925 per litre, before multiple adjustments. Despite the new rates, fuel prices in Lagos remain lower than in some northern cities, where prices have recently been as high as N960 per litre.
The price increase signals continued volatility in Nigeria’s deregulated fuel market, with consumers bearing the brunt of rising costs.
