NNPC Increases Petrol Price in major cities; New prices revealed

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The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of petrol to N925 per litre at its retail stations in Lagos and N950 per litre in Abuja, effective from April 2, 2025. This represents an increase of N65 from the previous price of N860 per litre in Lagos and an N70 difference from the N880 previously sold in the North.

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Industry experts attribute the new increase to the recent suspension of sales of petroleum products in naira by the Dangote refinery, which has influenced market pricing dynamics.

The development also comes against the backdrop of a new leadership at the national oil firm, as President Bola Tinubu appointed Mr Bayo Ojulari to replace Mele Kyari, while also restructuring the NNPCL board.

NNPC stations in Lagos, including those along the Lagos-Ibadan Motorway and Ikorodu Road, now sell at N925 per litre after initially displaying N930 per litre. Similar price adjustments have been made at other stations in Lagos and Abuja.

“This adjustment reflects ongoing changes in Nigeria’s deregulated fuel market and follows shifts in market competition, supply costs, and global oil price trends,” an industry expert said.

The price increase comes after months of price competition, with NNPC reducing its price to N860 per litre in March 2025 to match Dangote Refinery’s lower rates. However, due to rising global oil prices, exchange rate fluctuations, and changes in crude oil sourcing costs, NNPC has now revised prices upward.

In a related development, independent marketers, including MRS, had earlier increased the price of petrol, raising its pump price to N930 per litre in Lagos and N960 for residents living in the northern part of the country.

The current rate in Lagos is still lower than in some cities, like Abuja, where prices recently stood at N880 per litre

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