The Nigerian National Petroleum Company (NNPC) Limited has increased the price of premium motor spirit, also known as petrol, to N950 per litre in Abuja and N925 per litre in Lagos. The new pricing structure took effect on April 2, 2025.
This adjustment marks an increase of N65 from the previous price of N860 per litre in Lagos and N70 from the N880 per litre rate in the North. The latest hike follows recent price changes by independent marketers, including MRS, which raised petrol prices to N930 per litre in Lagos and N960 per litre in northern Nigeria.
Industry analysts attribute the price hike to changes in Nigeria’s deregulated fuel market, particularly the decision by Dangote Refinery to cease selling petroleum products in naira. This shift has influenced market competition, supply costs, and global oil price fluctuations.
NNPC stations along major routes, including the Lagos-Ibadan Expressway and Ikorodu Road, have now adjusted their pump prices to N925 per litre, though they initially displayed N930 per litre. Similarly, NNPC outlets in Fadeyi, Ago Palace Way, Ogba, and College Road have also implemented the new pricing structure. Other locations, such as Acme Road in Ikeja and the Lagos-Abeokuta Expressway, reflect the same adjustments. However, some NNPC stations in Lagos may experience delays in updating their prices due to logistical constraints.
In the Federal Capital Territory, the NNPC station on the Kubwa Expressway raised its price to N950 per litre from N880, with other stations in Wuse following suit.
This latest price change comes after months of fluctuating rates. In March 2025, NNPC reduced petrol prices to N860 per litre in response to competitive pricing from Dangote Refinery. However, factors such as rising global oil prices, exchange rate variations, and increased crude oil costs have necessitated another hike.
Earlier, in December 2024, NNPC had priced petrol at N925 per litre before implementing multiple adjustments. Despite the current increase, Lagos prices remain lower compared to cities like Abuja, where rates had previously been N880 per litre.
