NNPCL increases petrol pump price to N950/litre

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.

This takes effect from April 2, 2025 and represents a hike of N65 from the previous price of N860 per litre in Lagos and a N70 difference from the N880 previously sold in the North.

Last week, MRS and other independent marketers increased the price of petrol to N930 per litre in Lagos and N960 for residents living in the northern part of the country.

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.

NNPC stations along the Lagos-Ibadan Expressway and Ikorodu Road now sell at N925 per litre, after initially displaying N930 per litre to its customers.