- NNPCL increases pump price to N925 per litre in Lagos and N950 per litre in Abuja, effective April 2, 2025
- The new rates reflect a N65 and N70 increase from previous prices in Lagos and the North, respectively
- The price change aligns with rising global oil prices, exchange rate fluctuations, and crude oil sourcing costs
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, following an initial delay in implementation.
The new price adjustment, effective from Wednesday, April 2, 2025, reflects an increase of N65 from the previous N860 per litre in Lagos and an N70 hike from the N880 per litre previously set in the northern region.
This comes after independent marketers, including MRS, increased petrol prices last week, setting new rates at N930 per litre in Lagos and N960 per litre in northern states.
Industry analysts attribute the latest increase to the recent suspension of naira-based petroleum product sales by the Dangote refinery.
The adjustment also aligns with ongoing shifts in Nigeria’s deregulated fuel market, influenced by supply chain costs, global oil price trends, and market competition.
The development coincides with a leadership shakeup at NNPCL.
On Wednesday, April 2, President Bola Tinubu appointed Mr. Bayo Ojulari as the new head of the national oil firm, replacing Mele Kyari, while restructuring the NNPCL board.
A survey by The PUNCH confirmed that NNPC stations along the Lagos-Ibadan Expressway and Ikorodu Road have updated their pump prices to N925 per litre after initially displaying N930 per litre.
Similarly, outlets in Fadeyi, Ago Palace Way, Ogba, College Road, Ikeja, Acme Road, and the Lagos-Abeokuta Expressway have adopted the new pricing.
However, due to logistical constraints, some Lagos stations have yet to adjust their prices.
In the Federal Capital Territory, NNPC stations along the Kubwa Expressway and in Wuse have raised their pump prices to N950 per litre from N880 per litre.
This latest adjustment follows months of price fluctuations. In March 2025, NNPCL reduced its pump price to N860 per litre in response to Dangote Refinery’s lower rates.
However, factors such as rising global oil prices, exchange rate instability, and shifts in crude oil sourcing costs have necessitated an upward revision.
NNPCL previously sold petrol at N925 per litre in December 2024 before implementing several price changes.
Despite the current increase, the new Lagos price remains lower than in some cities, such as Abuja, where prices recently stood at N880 per litre.
NNPCL reduces fuel pump price to N860
Meanwhile, TheRadar earlier reported that the Nigerian National Petroleum Company Limited (NNPCL) adjusted fuel pump price across its retail outlets to N860 per litre.
Although there was no official communication from the NNPCL Retail on price reduction, some NNPCL retail stations in Lagos and Abuja adjusted their pumps to N860 and N865 per litre, down from N945 as of Sunday, March 2.