NNPC Raises Petrol Price To ₦925 In Lagos, ₦950 In Abuja

The Nigerian National Petroleum Company Limited (NNPCL) has officially raised the pump price of petrol to ₦925 per litre at its retail stations in Lagos and ₦950 per litre in Abuja, effective April 2, 2025.

This new price marks an increase of ₦65 from the previous rate of ₦860 per litre in Lagos and an ₦70 increase from the ₦880 previously charged in the Northern region.

This move comes after independent marketers, including MRS, raised their own petrol prices last week, with Lagos seeing a price of ₦930 per litre and the North at ₦960 per litre.

Industry experts have linked this price hike to the recent suspension of petrol sales in naira by the Dangote Refinery.

This decision is seen as a direct consequence of the shifts in Nigeria’s deregulated fuel market, influenced by changes in market competition, supply costs, and global oil price fluctuations. The move also reflects broader adjustments following the leadership change at NNPCL.

On Wednesday, President Bola Tinubu appointed Bayo Ojulari as the new Group CEO of NNPCL, replacing Mele Kyari. Additionally, a restructuring of the NNPCL board has been carried out as part of this shift in leadership.

According to Punch, at NNPCL stations in Lagos, including along the Lagos-Ibadan Expressway and Ikorodu Road, the price of petrol has increased to ₦925 per litre.

Initially, some stations displayed ₦930 per litre, but that price was later adjusted to the official rate. Other retail stations, such as those in Fadeyi, Ago Palace Way, Ogba, and College Road, have also updated their prices to ₦925 per litre.

While many NNPC stations in Lagos have implemented the new pricing, some may still be in the process of making adjustments due to logistical delays.

In the Federal Capital Territory (FCT), NNPCL stations, including those along the Kubwa Expressway and in Wuse, have raised their prices to ₦950 per litre, up from the previous price of ₦880 per litre.

This latest price adjustment follows a period of price competition, particularly after NNPCL reduced its petrol prices to ₦860 per litre in March 2025 to match Dangote Refinery’s lower rates.

However, with rising global oil prices, fluctuating exchange rates, and increased crude oil sourcing costs, NNPCL has now revised its prices upwards.

Earlier in December 2024, NNPCL had sold petrol at ₦925 per litre, but price shifts in early 2025 led to adjustments. Despite the increase, petrol prices in Lagos remain relatively lower than in other cities, such as Abuja, where prices recently stood at ₦880 per litre.