The Nigerian National Petroleum Company Limited (NNPCL) has raised the price of petrol at its filling stations nationwide, with new rates reaching N950 per litre in Abuja and N925 per litre in Lagos. The price hike, which took effect on Tuesday, April 2, 2025, represents an increase of N65 per litre in Lagos and N70 per litre in Abuja compared to previous prices.
This adjustment follows similar price increases by other independent fuel marketers last week. Industry experts attribute the rise to the Dangote refinery’s recent decision to sell petroleum products in US dollars, impacting the cost structure for other suppliers.
The price change also coincides with a leadership reshuffle at the national oil company, with President Bola Tinubu appointing Mr. Bayo Ojulari as the new head of NNPCL, replacing Mele Kyari.
NNPCL stations along major routes in Lagos, such as the Lagos-Ibadan Expressway and Ikorodu Road, are now selling petrol at the new rate of N925 per litre. Similar adjustments have been observed at NNPC stations in Fadeyi, Ago Palace Way, Ogba, and Ikeja.
In Abuja, NNPCL stations, including those on the Kubwa expressway and in Wuse, have adjusted their prices to N950 per litre.
This price increase marks a shift after a period of price competition in March, when NNPC lowered its rates to match those of the Dangote Refinery. However, rising global oil prices, fluctuating exchange rates, and increased crude oil costs are cited as factors necessitating the current price adjustment.
It’s worth noting that NNPC had previously sold petrol at N925 per litre in Lagos in December 2024, indicating price volatility in the deregulated market. While Lagos currently sees a price of N925, Abuja’s new price of N950 per litre is higher than the N880 per litre previously charged in the region.
NNPC Increases Petrol Price to N950/Litre in Abuja, N925/Litre in Lagos
