- Lagos-Ibadan Expressway and Ikorodu Road NNPCL stations are now selling petrol at N925 per litre after initially displaying N930 per litre.
- NNPCL outlets on Acme Road and the Lagos-Abeokuta Expressway in Ikeja have also implemented the new rate.
- While the current petrol price in Lagos sits at N925 per litre, this rate remains lower than those observed in certain other cities
Following initial hesitation, the Nigerian National Petroleum Company Limited (NNPCL) has announced an increase in the pump price of petrol at its retail stations.
Eko Hot Blog reports that effective from April 2, 2025, prices will rise to N925 per litre in Lagos and N950 per litre in Abuja, reflecting a N65 and N70 increase from previous rates in Lagos and the North, respectively.
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The new price regime comes amidst market fluctuations caused by the recent suspension of petroleum product sales in naira by the Dangote refinery, with industry experts citing this as a key factor in the price hike.
Last week, independent marketers such as MRS had already raised petrol prices in response to the changing market conditions.
This latest development highlights the challenges faced by Nigeria’s deregulated fuel market, as prices continue to shift in response to factors such as market competition, supply costs, and global oil price trends.
President Bola Tinubu appointed Mr. Bayo Ojulari as the new Chief Executive Officer (CEO), replacing Mele Kyari.
This decision comes as part of a broader effort to reform the state-owned oil firm and address long-standing allegations of corruption and inefficiency.
Lagos-Ibadan Expressway and Ikorodu Road NNPCL stations are now selling petrol at N925 per litre after initially displaying N930 per litre.
Similarly, stations at Fadeyi, Ago Palace Way, Ogba, and College Road have adjusted their prices to N925 per litre.
NNPCL outlets on Acme Road and the Lagos-Abeokuta Expressway in Ikeja have also implemented the new rate.
As logistical delays may affect the rollout of updated prices at some NNPCL stations in Lagos, customers are advised to check their local stations for the most current information.
In Abuja, the NNPCL station along Kubwa Expressway has raised petrol prices to N950 per litre, marking a N70 increase from the previous price of N880 per litre.
This adjustment comes after NNPCL’s initial decision in March 2025 to lower prices to N860 per litre in an effort to match rates offered by the Dangote Refinery.
However, the company has faced various challenges stemming from rising global oil prices, exchange rate fluctuations, and changes in crude oil sourcing costs.
As a result, NNPCL has now deemed it necessary to increase petrol prices at its retail stations in Lagos and other cities across Nigeria.
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While the current petrol price in Lagos sits at N925 per litre, this rate remains lower than those observed in certain other cities, such as Abuja, where prices have recently stood at N880 per litre prior to the latest adjustments.
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