NNPCL increases petrol price to N950/litre

After initial hesitation, the Nigerian National Petroleum Company Limited (NNPC) has officially raised the pump price of petrol, marking another hike in fuel costs across the country.

The new price structure, which took effect on April 2, 2025, sets petrol prices at ₦925 per litre in Lagos and ₦950 per litre in Abuja.

This adjustment reflects a ₦65 increase from the previous price of ₦860 per litre in Lagos and a ₦70 rise from the ₦880 per litre previously charged in the northern region.

This development follows last week’s price hike by MRS and other independent marketers, who increased petrol prices to ₦930 per litre in Lagos and ₦960 per litre in the North. The move by independent marketers had already signaled an impending increase in fuel costs, which NNPC has now made official.

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Industry experts said the new increase is a direct fallout of the recent suspension of sales of petroleum products in naira by the Dangote refinery.

This adjustment reflects ongoing changes in Nigeria’s deregulated fuel market and follows shifts in market competition, supply costs, and global oil price trends.

The development also comes against the backdrop of a new leadership at the national oil firm. President Bola Tinubu appointed Mr Bayo Ojulari to replace Mele Kyari in the early hours of Wednesday, while also restructuring the NNPCL board.

Our correspondent confirmed that NNPC stations along the busy Abuja-Kaduna Highway and Kano Metropolitan now sell at N950 per litre, after initially displaying N930 per litre to its customers.

Also, the NNPCL retail stations at Bank road, Kaduna, as well as the NNPC station on Trans Amadi In Port Harcourt, have adjusted their prices to N935.

In Ikeja, Lagos, outlets on Acme Road and the Lagos-Abeokuta Expressway have also raised their pump prices to the new rate.

However, not all NNPC stations in Lagos may have updated their prices at the same time due to logistical delays.

In the Federal Capital Territory, the national oil firm station located along the Kubwa expressway increased its price to N950 from N880 per litre. Other stations along Wuse effected the same increase.

This adjustment comes after months of price competition. In March 2025, NNPC reduced its price to N860 per litre to match Dangote Refinery’s lower rates. However, due to rising global oil prices, exchange rate fluctuations, and changes in crude oil sourcing costs, NNPC has now revised prices upward.

Earlier in 2025, NNPC had sold petrol at N925 per litre in December 2024 before several price shifts. The current rate in Lagos is still lower than in some cities, like Abuja, where prices recently stood at N880 per litre.