NNPCL Increases Petrol Pump Price to N950/Litre

The price hike follows a series of fluctuations in recent months. In March 2025, NNPCL had reduced its pump price to N860 per litre to remain competitive with Dangote Refinery’s pricing. However, rising global oil prices, currency exchange rate fluctuations, and shifting crude oil supply costs have prompted the upward revision.

Abuja, Nigeria – The Nigerian National Petroleum Company Limited (NNPCL) has implemented a fresh hike in petrol pump prices, setting the rate at N925 per litre in Lagos and N950 per litre in Abuja. This adjustment, which took effect on Tuesday, follows an initial period of uncertainty regarding fuel pricing in the country.

The latest increase translates to an N65 rise from the previous price of N860 per litre in Lagos and a jump of N70 from the earlier N880 per litre in the northern region. This development aligns with recent changes in Nigeria’s deregulated fuel market.

Industry analysts attribute the upward adjustment to the recent decision by Dangote Refinery to suspend the sale of petroleum products in naira. The shift has influenced market pricing dynamics, leading to price variations across different regions.

Checks by our correspondent confirmed that several NNPC outlets across Lagos, including those on the Lagos-Ibadan Expressway, Ikorodu Road, Ago Palace Way, Fadeyi, and Ogba, have adopted the new price of N925 per litre. Some stations initially displayed N930 per litre before adjusting to the new rate. Similarly, outlets on Acme Road and the Lagos-Abeokuta Expressway have followed suit.

In Abuja, NNPC stations along the Kubwa Expressway and Wuse have implemented the N950 per litre pricing structure, reflecting an increase from the previous N880 per litre.

The price hike follows a series of fluctuations in recent months. In March 2025, NNPCL had reduced its pump price to N860 per litre to remain competitive with Dangote Refinery’s pricing. However, rising global oil prices, currency exchange rate fluctuations, and shifting crude oil supply costs have prompted the upward revision.

Notably, NNPC had sold petrol at N925 per litre in December 2024 before implementing multiple price changes. Despite the latest hike, Lagos prices remain slightly lower than those in Abuja and other parts of the country where fuel costs have seen a steeper increase.

With the fuel market now fully deregulated, industry watchers anticipate further price adjustments in response to market forces, exchange rate movements, and global crude oil trends.