In a move that marks further shifts in Nigeria’s deregulated fuel market, the Nigerian National Petroleum Company Limited (NNPCL) has increased petrol prices at its retail stations.
As of April 2, 2025, the price per litre has been set at N925 in Lagos and N950 in Abuja.
This adjustment, which follows a similar rise by MRS and other independent marketers last week, represents a N65 increase in Lagos, where the previous price was N860, and a N70 hike in Abuja, where it stood at N880.
The latest price hike comes in response to changing market conditions, including the suspension of naira-based fuel sales by the Dangote refinery, which has significantly impacted fuel supply and pricing.
Experts suggest that this disruption, along with factors such as global oil price fluctuations, the devaluation of the naira, and rising crude oil sourcing costs, are key drivers behind the ongoing adjustments in the sector.
The announcement also comes on the heels of a leadership change at NNPCL. President Bola Tinubu appointed Mr. Bayo Ojulari as the new CEO, succeeding Mele Kyari, and restructured the company’s board in a bid to drive efficiency.
At NNPCL retail stations in Lagos, including along the Lagos-Ibadan Expressway and Ikorodu Road, the price has been adjusted to N925 per litre. Initially, some stations displayed N930, but this was later corrected.
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Other locations like Fadeyi, Ago Palace Way, Ogba, and College Road now feature the updated price of N925, while some stations in Ikeja, including those on Acme Road and the Lagos-Abeokuta Expressway, have also followed suit.
In Abuja, the national oil company has implemented the price hike across its stations, including those along the Kubwa Expressway and in Wuse, where the price has risen to N950 per litre.
While the price hikes come after months of fluctuating prices—NNPCL had reduced prices to N860 per litre in March 2025 to align with the Dangote Refinery’s lower rates—global factors like oil price increases and exchange rate instability have pushed NNPCL to revise the price once again.
Earlier in December 2024, NNPCL’s price stood at N925 per litre, which was lower than in some parts of the country, such as Abuja, where prices had risen to N880 per litre.
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