By Ismail Olanrewaju
After initial hesitation, the Nigerian National Petroleum Company Limited (NNPCL) has increased petrol pump prices to ₦925 per litre at its retail stations in Lagos and ₦950 per litre in Abuja. The new pricing, effective April 2, 2025, reflects a ₦65 increase from the previous ₦860 per litre in Lagos and a ₦70 jump from the ₦880 per litre previously charged in the North.
This follows a similar move by independent marketers, including MRS, who last week raised prices to ₦930 per litre in Lagos and ₦960 per litre in northern states. Industry analysts attribute the hike to the recent suspension of naira-based petroleum product sales by the Dangote refinery, along with broader shifts in Nigeria’s deregulated fuel market.
In Lagos, NNPCL stations along the Lagos-Ibadan Expressway and Ikorodu Road have now adjusted their prices to ₦925 per litre, after briefly displaying ₦930 per litre. Other outlets, including those in Fadeyi, Ago Palace Way, Ogba, Acme Road, and College Road, have followed suit. However, due to logistical delays, some NNPCL stations in Lagos may take longer to implement the change.
In Abuja, NNPCL’s retail stations along the Kubwa Expressway and Wuse have updated their pump prices to ₦950 per litre, up from ₦880.
This adjustment follows months of price competition. In March 2025, NNPCL reduced its price to ₦860 per litre to match Dangote Refinery’s lower rates. However, rising global oil prices, exchange rate fluctuations, and changes in crude oil sourcing costs have now necessitated an upward revision.
Notably, NNPCL previously sold petrol at ₦925 per litre in December 2024 before several fluctuations. The current price in Lagos remains lower than in some other cities, including Abuja, where petrol was recently priced at ₦880 per litre.
This development coincides with leadership changes at NNPCL, as President Bola Tinubu recently appointed Bayo Ojulari to replace Mele Kyari, while also restructuring the company’s board.
