The Nigerian National Petroleum Company Limited (NNPCL) has raised the price of petrol to N925 per litre at its Lagos retail stations and N950 per litre in Abuja.
This adjustment, effective from April 2, 2025, represents a N65 increase from the previous price of N860 per litre in Lagos and a N70 increase from N880 per litre in the North.
This price hike follows last week’s increase by independent marketers, including MRS, who raised prices to N930 per litre in Lagos and N960 per litre in northern Nigeria.
Experts attribute this increase to the suspension of naira-based petroleum product sales by Dangote Refinery. Additionally, the shift aligns with ongoing changes in Nigeria’s deregulated fuel market, influenced by global oil price trends and competition among suppliers.
NNPCL’s new price structure also follows the recent reshuffling at the national oil firm, with Mr. Bayo Ojulari appointed as the new GCEO by President Bola Tinubu.
Several NNPCL stations in Lagos, such as those along the Lagos-Ibadan Expressway and Ikorodu Road, have now adjusted prices to N925 per litre. In Abuja, stations along the Kubwa expressway have raised prices to N950.
Earlier in 2025, NNPCL had reduced prices to N860 per litre to match Dangote Refinery’s rates, but due to rising global oil prices and the fluctuations in the exchange rate, the company has now reversed that decision.
