The Nigerian National Petroleum Company Limited (NNPCL) has raised the price of petrol to N925 per litre at its retail stations in Lagos and N950 per litre in Abuja, following initial hesitation. This price increase, effective from April 2, 2025, marks a N65 hike from the previous price of N860 per litre in Lagos and a N70 increase from the N880 per litre in Abuja.
Earlier, independent marketers like MRS raised their prices, setting the pump price at N930 per litre in Lagos and N960 per litre in the north. Industry experts attribute this recent increase to the suspension of petroleum product sales in naira by the Dangote refinery.
The price hike is part of ongoing changes in Nigeria’s deregulated fuel market, which is influenced by competition, supply costs, and global oil price trends. Additionally, the NNPCL price adjustment coincides with leadership changes within the company. President Bola Tinubu appointed Mr. Bayo Ojulari as the new CEO, replacing Mele Kyari, and also restructured the NNPCL board.
Stations along the Lagos-Ibadan Expressway and Ikorodu Road have adjusted their prices to N925 per litre, after initially displaying N930. Retail outlets at Fadeyi, Ago Palace Way, Ogba, and College Road in Lagos have also raised their prices to N925 per litre. However, some NNPCL stations in Lagos may not have updated their prices yet due to logistical delays.
In Abuja, the NNPCL station along Kubwa Expressway increased its price to N950 per litre from N880 per litre, with other stations in Wuse following suit. This price change follows months of price competition. In March 2025, NNPCL lowered its price to N860 per litre to match Dangote Refinery’s lower rates. However, due to global oil price increases, exchange rate fluctuations, and changes in crude oil sourcing costs, NNPCL has now raised its prices. Earlier in 2025, the company sold petrol at N925 per litre in December before several price adjustments.
