By: Omike Matthew
The Nigerian National Petroleum Company Limited (NNPCL) has raised the pump price of petrol to N925 per litre at its retail stations in Lagos and N950 per litre in Abuja, after initially hesitating to implement the change.
Effective from April 2, 2025, this new pricing marks an increase of N65 from the previous N860 per litre in Lagos, and a N70 rise from the earlier N880 in Abuja. This adjustment follows last week’s price hikes by MRS and other independent marketers, who set their prices at N930 per litre in Lagos and N960 in northern Nigeria.
Experts in the industry have linked this price increase to the recent suspension of petroleum product sales in naira by the Dangote refinery. The change reflects the ongoing shifts in Nigeria’s deregulated fuel market, driven by competitive market dynamics, rising supply costs, and fluctuations in global oil prices.
This move also coincides with the appointment of new leadership at the national oil firm. President Bola Tinubu recently appointed Mr. Bayo Ojulari as the new CEO of NNPCL, replacing Mele Kyari, and also restructured the company’s board.
In Lagos, NNPCL stations along the Lagos-Ibadan Expressway and Ikorodu Road are now selling petrol at N925 per litre, after initially listing it at N930. Other retail stations in Fadeyi, Ago Palace Way, Ogba, and College Road have also adjusted their prices to N925. Similarly, outlets in Ikeja, including those on Acme Road and the Lagos-Abeokuta Expressway, have increased their pump prices to match the new rate. However, some stations in Lagos may still be updating their prices due to logistical delays.
In Abuja, the price at the NNPCL station on the Kubwa Expressway has risen from N880 to N950 per litre, with similar changes across other stations in Wuse.
This price revision follows months of competitive pricing, with NNPCL having lowered its rate to N860 per litre in March 2025 to align with Dangote Refinery’s pricing. However, due to factors like global oil price increases, exchange rate volatility, and rising crude oil sourcing costs, NNPCL has now raised its prices once again.
Earlier in 2025, NNPCL had set the price at N925 per litre in December before a series of price changes. Despite the recent increase, the current price in Lagos is still lower than in some other cities, such as Abuja, where the price had been set at N880 per litre.
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