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GOD HELP US! NNPCL Raise Petrol Pump By N950/Litre

Posted by Gistsnaija. on 3 April, 2025 | under News
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NNPCL Raise Petrol Pump By N950/Litre

The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of petrol to N925 per litre in Lagos and N950 per litre in Abuja, effective April 2, 2025. This represents an increase of N65 from the previous price of N860 per litre in Lagos and an N70 difference from the N880 previously sold in the North.

The price hike is attributed to the recent suspension of sales of petroleum products in naira by the Dangote refinery, which has affected the deregulated fuel market in Nigeria. Industry experts point out that this adjustment reflects ongoing changes in market competition, supply costs, and global oil price trends.

Interestingly, MRS and other independent marketers had already increased the price of petrol last week, raising its pump price to N930 per litre in Lagos and N960 for residents living in the northern part of the country.

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The NNPCL’s decision to increase prices comes amidst a new leadership at the national oil firm, with President Bola Tinubu appointing Mr Bayo Ojulari to replace Mele Kyari as the head of the organization.

Not all NNPC stations in Lagos may have updated their prices simultaneously due to logistical delays. In Abuja, the NNPC station along the Kubwa expressway increased its price to N950 from N880 per litre, with other stations along Wuse following suit.

This price adjustment comes after months of competition, during which NNPC reduced its price to N860 per litre in March 2025 to match Dangote Refinery’s lower rates. However, rising global oil prices, exchange rate fluctuations, and changes in crude oil sourcing costs have led NNPC to revise prices upward.

Earlier in 2025, NNPC sold petrol at N925 per litre in December 2024, before several price shifts. The current rate in Lagos is still lower than in some cities, like Abuja, where prices recently stood at N880 per litre.